And then get a pre-approval from a local bank..... not a chase, BOA, or USBank.. then... we can start shopping and running some numbers.  

Wife and I are looking for a single-family home as our primary residence and BoA said they could offer me a mortgage for this new purchase with 5% down. 

I'm surprised that this is difficult to find in your market as id imagine the overwhelming majority of  borrowers for  rehabs would be LLCs.Perhaps its different with larger banking institutions like a BOA or Citi but most credit union and local banks shoud do this. 

He can open an account with BOA.

I was advised to stay away from the big boys (Chase/BOA,etc.) because of the bureaucracy.

(BTW, I am already in contact with BOA and Guaranteed Rate, just waiting for my 2017 tax returns to be completed which should be this month)

Hence, you would see the discrepancy between scores provided by BOA and lenders.

And when I start investing this money, because I am working and saving and sending this money to my BoA so that I can invest into real estate together with my brother, can we have any problems with this?

I have a boa account already and like the integration with Merrill edge, do you have any feedback on this platform?

The third party, BOA, was impossible to deal with in that particular situation, and after months and months of back and forth, I finally walked away from it.