However, since we're planning to come up with the deposit, what criterias will lenders look for in us, besides the usual (e.g. tax returns, paystub, liquid assets, DTI)?

Stabilize cash flows, sell to institutional investors or larger family offices, who are happy to buy these in-built cash flows for their investors. 

Assets such as a second home will be considered and they will be expected to liquidate.

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

https://www.biggerpockets.com/...its discussed here that exponential jumps is key to building the cash flow and financial freedom, if you have, say 300k liquid, how many jumps should one make to jump levels, I have flipped properties in the past, but never really held because I got hit by the 08 Crash.

As you said, good way to 1031 exchange into a larger deal alongside other investors. 

I can afford to do the remodel myself, ($125k), but a full tear down and change of use would be a much larger investment. 

Now that lake is much larger at 92,784 acres.

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

@John Huynh, we invest in larger multifamilies and for those, we always inspect every unit.