My credit is good. 

I got a conventional loan with 5% down, 30yr and took a 4.25% vs a 3.75% to receive about 2500 back in lender credits on my down payment. 

Which will create a maximum down payment of 18k(20%) plus other expenses.I have about 20k available in LOC and Credit cards.

Credit and income.I would love some feedback.

Always do the math analysis and try to look at your prospective properties before you make an offer or at least have a clause that will protect you for some time (usually about 15 days) to make a detailed inspection and possibly back out of the deal without a penalty that will hurt you too much.Right after you close on an improved property get an insurance policy that will protect you if there is a loss.  

The amount you originally paid is irrelevant if you can show the current value is comparable to what is selling today.Emphasize the value you added to the property with the improvements you made. 

Congrats, I am surprised to see the number of improvements for $5,100.

I have been pre-approved, but from a credit union which did let me know my max number just if they would approve me for a $170,000 home I was looking at. 

If their credit is good, the rates are low right now so it may not jump the payment up to much.

Then just pray that their stagnant economy improves