Few handle construction loans and I was denied once, I’m assuming due to our credit score).

If you would not accept these tenants, how would appropriately phrase denying their application? 

Thought I had a shot.Well, needless to say, I get a cold letter from said bank, denying my application for due to "Unacceptable Business Purposes"...?! 

Anyway, I always deny these requests. 

It's best to assume nothing and try to get more information from the owner (because it's only going to get hotter), and being in a position of having more accurate information (or being denied that information) you can make a better decision on how to move forward.Good Luck!

Inspect the COMPLETE credit report-- that is usually the most telling piece of an application and gives you a reason to deny if it's terrible and full of late payments and delinquencies. 

Thinking 35k ish (15 for judgement and the car loan) then I’ll have 20 for rehab. 130k + 35k =160k essentiallyAfter rehab, get a cash out refi for the remaining equity ( @75-80%) and then keep up the BRRRR That’s my plan roughlyHere are my questions and the credit side of things:      Wells Fargo hold my mortgage but denied my first Heloc request.

First of all I doubt it would slide past a lender since they'll want to source the funds and as soon as they see 1031 money going to what they think is a primary purchase you will be denied. 

We are closing on our first rental house in a couple of weeks.  We are considering doing a short term rental (Airbnb, VRBO) for the first year until our daughter moves into the house for college accommodations.  She w...

Borrower requested refund via loan servicing company but request was denied.