If not, what are other creative financing types that do not require income verification (or limited verification)?

DSCR is a no-income verification loan.

I always have family and friends giving me negatives like " what is it doesn't rent" or who is going to "pay that much for rent" or "what if the tenant burns the house down" are these realistic situations and how do I prepare and understand to to come back if anything like this happens how do I plan ahead.3. should I go for a newer house with little to no rehab for 415,000 or something like 350,000 with like 10-20 in rehab?

No income verification.

Non-owner occupant loans are typically Fannie/Freddie loans on properties 1-4 units, property titled in your name, you are signing the loan with verification of YOUR income and financial status.  

It can be very dangerous paying for a listing without knowing what terms you are going to be required to agree to. To

If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.6.

After making what seemed to be an endless amount of offers in this hot market, with a lucky turn of events of a sellers contact falling through due to the first place buyer unable to to afford financing.

It’s true, there's a certain reassurance in traditional, in-person closings where you can see all parties and the attorney right there.Still, virtual closings are generally secure and are backed by robust technology for identity verification, which should ease some worries.

1) Capital improvement can be added to to original cost basis thus would reduce your tax paid on capital gain had you decide to sell it later.