What happens if you cannot get approved ? 

I was just approved for a HELOC on my house and my original plan was to do a BRRRR, but in these times it seems like that is not a good approach.

Once the SBA starts approving loans we should know more.

I am thinking this comes after I have been approved for X amount of dollars, is this correct? 

@Shahriar Khan Option 2 was good suggestion but these City is taking forever even for small plan approvals.

I had a 750k pre-approval lined up but due to a break up with my long time gf things have changed , I have about 60k liquid in my savings , another 14k in my Roth ira and another 19k also in the stock market for a grand total of 93k , the real issue is getting the loan , this year I will file for about 40k in taxes but I'm looking to capitalize on a house back while rates are low .

The loan is locked, underwritten and approved...and the payoff is ordered.

I plan to leverage an FHA loan as an owner / occupant and put 5-10% down.I understand the difference between pre-qualification and pre-approval for a mortgage.

Received two sets of applicants, both have been approved.

For all of you active real estate investors that want to be able to pounce on a deal as soon as you find it, I'm assuming you are always in good standing with a lender and have a pre-approval letter ready to submit with the offer.