Banks will typically lend from 65% - 80% of the property's value (LTV).

For now, the tenants need to know, on the day of close, where to mail their rent (or update their auto-pay), how to make out the check (matches the new bank account) and who will be the property manager, with the contact phone numbers of the property management office or person.

I had some guy rent a room in my house and he failed to mention he worked nights - I quickly realized this when he'd arrived home at 5 AM making too much noise. 

You need to find a bank that does income loans

I'm still 'in process' with two banks.

So, my question: any ideas on a better banking/financing options?

The property is REO (Bank Owned), how will you know if the bank is motivated? 

I recently closed a wrap-loan with a local bank where I financed a home with a 3 year ARM on 20 year amortization and then sold the home as owner-finance with a 5 year ARM and 30 year amort.

I wanted to bank my full-time job income and live by my rental income.

Over the years I have eliminated any that are so arrogant that they believe they can use me as a bank at the beginning of the month to cover other bills.