For instance say a median priced home in my area is $500k....so for say an FHA/VA buyer to compete against a conventional loan, I typically say we need to escalate $5,000 over best offer if I believe the 2nd best offer to be conventional financing.

You purchased for $250,000 and did extensive repairs and now your appraised value six months later is $325,000.

Provided you are working with one of the majority of lenders has extensive overlays, it should not be an issue at all to use your new income to qualify. 

For instance I just evaluated a triplex this morning which each 2bed/1bath rents for $2150, 3x the rent, and a 700 credit score, with no pets, employed in the same industry for 24 months, limits your pool to people who you probably aren't going to have these problems for.  

For instance, Working and royalty interests in oil/gas/mineral projects are like kind to investment real estate.  

@Conor MurphyI have some concerns about your financing, I have an extensive background in mortgage lending and I haven't heard of an interest only 90% LTV condo loan @4% rate.

In either instance you don't have to spend the money with either loan so I would apply for both loans to give you access to more cash if needed. 

Go with a proven, extensive track record operator!

For instance, has anyone used Facebook advertising with any success?  

For instance if your condo association is responsible for the $30k roof of the building and they don't reserve for it for the first 30 years to keep fees low they look pretty good but that poor guy that buys right before the 30 years is up is going to get smacked with a special assessment.If you're going to get into one you just need to do a lot of work to make sure that the finances of the association are in good shape for the services they are responsible for.One last thing, if your plan is to rent the condo out make sure that is allowed because a lot of them have caps on the number of units that can be rented.