SCORE is a very good resource!!

@Alex Scotte I think this is an incredibly location specific question, so take my advice with a grain of salt.

@Bhanu Kuna, i think HML might work on your situation cause its going to be hard for you to get a Lender that will be willing to lend only on the Rehab.With a HML you will get up to 85-90% of the Purchase price and 90-100% of the Rehab all depending on your experience and Credit Score so all you need to bring into the deal will be your down payment and closing cost.Let me know if this is an option you will like to explore.

A lot of lenders increased their lending requirements (higher credit scores, higher down payments, reserve funds, etc) so there are fewer buyers out there.  

That would either be cash money out of your pocket, equity from your property (tapped through a HELOC, HELoan, or a refinance), or cash money from somewhere else (private equity, a personal loan, etc).So basically, it's either going to have to be paid by insurance or from cash/equity.Regarding the LLC - I've generally understood this to be a good move, more for legal protection than credit score optimization. 

Selection criteria: renters earn ~3x the amount of the rental, no recent evictions, credit score 600+, no pets, tenants are responsible for snow removal, grass, utilities.  

Whoever is quoting 7-8% must be quoting 650 credit score borrowers and loans under $100k.

For example, 700+ credit score, no bankruptcies in last 7 years, verifiable income such as recent pay stubs, business bank statements are not accepted...

Because, ( assuming we’re talking about investment property), the property will still have to generate sufficient net income to make the payments on the additional financing; your debt and income ratios will have to be below a certain threshold; and you credit score will need to be satisfactory.

Yes, you must have income and a good FICO score.