They did not approve.

Get broker approval and then type up the agreement with your client.Good luck!

Actually was able to get a 20% down DSCR loan Pre-Approval from a lender I work with.Not positive exactly which product/structure he used to come up with it, but I will update the post once I have that info!

Though I will note that in my client's experience, Lima One moved a bit slower than most Hard Money / Private lenders as far as appraisal timelines and lending approval. 

I have cash saved up and applied for a pre-approval with my bank ... only to be told that they, and many lenders, wont work with me because I reside in Mexico!

First, before taking any exam you must take a GREC approved 75-hour pre-licensing course.

It's never came back on me but during this time I don't respond to messages but if I responded back 2 days later and explained I had an approved applicant that bailed I am sure a good applicant would understand. 

I always swing for the fences when I fill that in, knowing that even if I fall short it will still (very likely) be approved at a market rate.

It will need Cap-Ex sooner or later, so BRRRR would be the ideal approach here; I'm approved for a conventional loan, but could start applying in earnest for a bank loan, or possibly pursue an option I have to partner up to make a cash offer (this deal is right around that 100k mark where my lender would only reluctantly do such a small conventional loan...another reason BRRRR is appealing).

I am a PA Broker and Nathan is right, you need a license, which you have and your broker needs to approve of it and supervise your activities.