That's a standard they interpret very strictly.Common failure items include peeling paint (even a tiny bit), cracked glass, loose hand rails, crumbly cement steps and rotting wood trim.Go for the FHA 203K construction loan or a portfolio loan with a local lender. 

Hey there Roy, I put on the UF Veterans Real estate meet-ups.

I found there is a crack/split/missing chunk of decking (the wood under the shingles).  

I really like those.. and nice wood plantation shutters are nice as well and more robust than plastic ones..  

In the first case you would do granite, fancy pendant lighting, wood tile floors, stainless steel appliances.

We renovated and kept the original beautiful wood doors and tongue and groove ceilings in bedrooms & master bath.So now I'm trying to acquire a bank loan to absorb private loan & rest of Reno.

My house is a 4 bed 2.5 bath with new wood laminate and fresh paint throughout.(2400 sq ft total built in 1993).

@Noah Wood You can look at a hard money lender (I use ReCasa Financial), but with only $10k in repairs their points they charge might not be worth it, but something to consider.

Another thing to look for  TERMITES ,its a wood house .  

In my neck of the woods, 15 miles is about 15 minutes.