Your closing costs are too low and you are self-financing the repairs in the report.

You will not likely qualify for bank financing with a low credit score and less than two years employment.

National 12.7No Flood areasNo Flat roofPopulation growth above national average .7-.9Builafter 1980Population above 150,000Prefer main city or immediately surrounding areaRed statesNo income tax states or low real estate tax rates

In addition, I know some lenders are willing to hold back reserves when you have low liquidity. 

Here is a good thread on what risks to look out for in condo investing and how to analyze vet condo deals:https://www.biggerpockets.com/forums/91/topics/482...They were good for me starting out due to low price point and overall lower barrier to entry, but now shifting to SFRs because they offer the maximum control.

I'm wanting to start with the strategy of hold and rent but it is hard to find deals in the Charlotte market that make sense because inventory is so low.

Right now loan rates are pretty low a"nd it might be a good time to take out a loan.I think an investor will probably "low ball" offer on your house that would make you lose most or all of your equity. 

(Source/BAH Calculator)  What dose this mean?

I did get approved for the mortgage, with a conventional and low down payment.

Have your money ready, your lenders lined up, your LLC formed and your accountant and attorney all on the same page.Make sure your first deal is super solid and pick quality and low risk especially for the first deal. remember this is a marathon and not a sprint.