You aren't getting a conventional loan unless you have several years as a 1099 of similar income.

My main questions would be: how long does the entire process take from applying to actually having possible tenants to start picking from, and how do they determine exact amount for rent (the amounts listed on the housing authority site seem way higher than market rent, I’m wondering if I will actually get those numbers or not)any other general tips or advice is also appreciated!

You do have to know how to read these, but at least ask for them.If you aren't familiar with this process, have someone help you through it. 

If you are not in a D or F market, if one out of 5 people aren't a felon, stick to the demographic - your place will rent In any situation, have the guidelines, and always get all the facts. 

When I did it correctly, they denied the transaction and informed me that my TAX ID and account is no longer authorized to use Melio, with NO EXPLANATION.

I believe with a typical subject-to deal you give the buyer authority to handle the loan.

The increases aren't keeping up with my property tax increases but I don't want this tenant to move out.

It’s full of idiots who have nothing better to do all day than troll the Mortgage Grapevine, and they obviously aren’t making any loans!

So unless you are flush with cash, and most banks aren't now, and you match up duration, which as SVB showed us that many don't, it is not really the best play. 

.- Legal and Regulatory Framework: RERA Approval: Verify that the project is registered with the Real Estate Regulatory Authority (RERA) and has all necessary approvals.