Not sure about GA, but in FL the only downside to getting pre-approved is that your credit score will reflect the fact that you had a mortgage company check your credit score.Other that that, there really is no downside to getting pre-approved that I know of.  

Typically, a conventional loan will require a credit score of at least 640 (and often higher), and a portfolio loan will generally require 30%+ of your own cash, unless you're willing to wait 6-12 to refinance (though they will also take your credit score into account).

Good scores good assets....

I bought the one's with scored concrete floors and all brick.. my capex has been next to nothing.. its been 8 years now and I am selling them all as the recapture sunseted at 5 years.There was a huge play for new construction pre 08..

And that is true if you are tied into the market or spending scores and scores of hours scouring and rejecting until the gem if found.  

No savings, No credit (poor score), in debt, with low paying job.Yes, this is the Rags again let's start the journey to Riches.  

Me and my husband have great credit scores and I got conventional financing for 4 properties.

The property wouldn't be an JUST an investment property, but somewhere where I would want to live for the short term at least.With an 80k annual income (38k in student loans), 720+ credit score, 10k down payment, first house.is the place/situation I'm wanting a pipe dream?

A Basic list would look like this:- 2 Years of Tax returns - 2-4 Pay Stubs - Proof of current employment - An Idea of your Credit score- Length of time with current employer - 2-6 months of bank statementsThis is not an all inclusive list but will give them a good idea of where you stand.  

I am looking to use my VA loan to finance the property, but my lender is saying that my credit score needs to be higher in order for them to finance a multifamily......any advice?