What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Workarounds:- Not all assumable mortgages with be at such a low LTV (loan to value) there are examples of properties that require 15-20-30% down.

Currently yielding $850 monthly ($600 after projected vacancy and budgeted maintenance)

Depending on the deal's profitability, some will only require you to bring 10% + closing costs to the closing table.

Also, the carry forward losses can be used to offset other passive income (e.g. if you currently have another rental with income or eventually have another rental property with income).Short-term rentals have different tax benefits and requirements.

Cape Coral can be a promising location for real estate investors, but like any investment, it requires careful consideration of various factors.

If that is the case, many lenders will require for you to have some skin in the game. 

Requirements for becoming a lender will vary from state to state, but at minimum, whomever operates/manages the company will likely have to meet industry experience requirements and will need to meet capital/bonding/licensing requirements specific to Texas.

I have the capital for a down payment and holding costs for a year but am struggling to find a lender who does not require a first-position lien on the home (the seller does not wish to subordinate his lien position).It has occurred to me to seek a partner-investor who would profit share with me if I was responsible for renovations, as I’m an experienced and licensed Residential Contractor.

When it comes to the "2 years to get started" comment, there are mortgage brokers who might be able to help shorten the time required for the loan.