What is required and what is the determining factors like Credit Score range, income verification, letters of recommendation, etc?

It will be owner occupied for a minimum of a year and i currently own my own condo which i will rent out so the multifamily will be my primary home.FactsPrice range for the property is 300K - 500KMonthly payment for all properties i have explored with agent is 925-1230 (all the analysis factored in projected rental income and maintenance and most of them were already rented which gave us the rent needed for underwriting)Current cash saved for downpayment = 45KIncome = 80K (45% is 3000/month)Condo PITI+HOA = 720  (currently FHA)(market rental for similar units in my area is 1000-1200)Total monthly debt + Condo = 2000 (approximately 250 is credit card debt at 0% that can be paid off if needed but have been saving the cash for DP)As you can see i will not have enough for a 20% down conventional and cannot go FHA because my current place is FHA financing (the refinancing process would take too long to switch to conventional).

Comps range from 143k-195k a lot of them being south of 175k.

I just looked for something in my price range that met my rental criteria that I knew would cashflow.  

I have the cash to do a flip in 100-150k range, but want to use leverage if I can.

Most of the homes on this street can be purchased in the $10k range and look decent with another 10k work. 

Pinpoint an area, price range, and basic plan.

Most of the residential units had at least a fridge and range.

I have a unique opportunity and Id like some input and feedback on how to go forward...I own a duplex that I paid 150k for.

If I am charged one penny more than i am supposed to be in a transaction and i am not properly notified and have time to figure it out if the property is still in my affordability range and worthwhile to me.....