The seller has to trust you will all his money, credit and much more - usually these deals are better with relatives or good friends2.

My credit score is above 700, I don't have much debt (5k on a credit card and 20k student loans). 

Prime interest rates, or the rates the government lends to banks, affects what rates banks can lend out their money at, as well as many credit card and other rates that are based on it.

Hey Mark, here are some quick tips:-Ask about DSCR: Check what's their minimum Debt Service Coverage Ratio (DSCR).

Gents, thank you for the support and tips! 

The people I sold to on a Wrap weren't able to get financing and it dragged on for a couple of years until they got their credit straightened out. 

Granted there are also additional financial burdens not reflected in the credit report. 

Any tips for a scared first time home owner looking to rent some to travel nurses?

Some non-DSCR loan products with no income verification and no credit score required.

Once I have located such a property, I buy their property for below market, (instant equity) no bank qualifying, no credit checks, by offering to take over their loan and make their payments for them.