That's a technical banking and legal term.

2) Are you pre-approved and have the down payment in your bank account?

So when the bank requires insurance for the loan amount.. that will work generally.. 

What does my purchase price and down payment need to look like for the bank to provide financing? 

In this manual (which I assume could be modified to provide to tenants) I include all the financing information (which you would not include for tenants) bank accounts, mortgage accounts, payment information, and mortgage payoff), a list of the contractors, what each contractor does, a list of upcoming planned or necessary repairs, and a copy of all leases associated with the property.

If you can get a better deal on the home due to age its a fine and if you need financing banks do not judge year built. 

The reason for this email is that we need to schedule a call with a representative about our direct deposits to our bank account, we keep having the same problem every month.

It's a banking and bookkeeping platform built specifically for real estate investors.

I did all my other due diligence like asking for paystubs, W2s, Tax returns, Employment verification, bank statements etc etc and did not see any red flags overall.

This is an option to consider and many larger banks/credit unions and nationwide mortgage lenders have released new loan programs allowing 2nds, HELOANS and HELOCS.