It’s a conventional mortgage and sounds awesome for investors, but I think I can get a much better rate than that and should just go through the headache of a full approval loan with a better rate if I can.Any insight from lenders?

@Anthony Thompson @Peter Kuck @Brett Read we did get pre-approved.

NCB will not do a HELOC on an investment property.First thing I would do, if you haven't already, is find out if your co-op has a max debt-to-income ratio and see if any refi or Heloc (if it's possible) pushes you past the max, or if your numbers have changed since you were last approved or with the purchase of your flips.

Is there anything I can do to get approved for another mortgage apart from waiting another year to show the 2 years of rental income on my tax return?

According to the condo's management company they did not receive the Master's assessment until after the budget was approved.

Check your zoning ordinance and call code enforcement to see if it would be approved without permit and/or variance in the property.

It is a seller’s market, so you are going to need either a pre-approval or proof of funds to even present an offer (even a lot of off market non MLS sellers will ask for that)2) determine what neighborhoods you are comfortable with.  

They promptly reached out to me with different joint venture projects where I could buy into different development projects. http://www.jointventuremarketp...I have been getting some red flags though, namely the fact that they ‘approved’ me for an investment project without even asking me any personal details.

I received a letter stating they have approved me for $500K small business loan. 

It's only a stepping stone to break free.While you are slaving, eat ramen, roommate up or live in trailer, avoid Starbucks and tuck every dollar you can squeeze out into a bank account. need 20% down and money for materials. so for 80K home (trashed), you will want 35K banked to get started, just a rough idea.Then, get pre-approved.