The owner will show property once there’s an approved offer.

(assuming you didn't plan on doing repairs/renovation yourself, since they require HUD approved contractors and more info on when how and what your doing.)

But I can't really understand how a bank will approve a business for a 250k house investment....  

As such, I am exploring simply doing a residential investment loan which I have already been pre approved for.

But the good news is if you purchase agreement calls for "review and approval of all leases" (basic, it should!)

I also looked at some of the recent postings and it seems they have advertised to a lot of section 8 tenants and in their marketing promise they "Can Get You Automatically Approved" which is a red flag.

You could also try putting an option to purchase on the property, which would allow for you to get zoning approval, etc.

@Hunter MillsHave you contacted your debtors and tried to pay off the old medical bills?

Not all lenders will approve in fact most probably won’t but you can (I have been told and have read) use that income with no Sch E history.Good Luck

I am going to the site approval hearing next week.