@Carolyn Brown You might want to look into smaller Credit Unions also. 

vacancy is an imaginary cost that you estimate upfront to ensure your investment can sustain itself and actually make money. you do not need to put aside any amount of money every month, as long as you have a reserve account with enough to cover your mortgage payment when the time comes. to make life easier, some investors will put this percentage aside every month to fund their reserve account, but it truly can come from your pocket, a line of credit, or any other vehicle you use.

The only way to wrap closing costs into the loan when purchasing a property would be to ask the seller to give you a credit - 2% for investment purchases. 

I was using smart move online form which gets the background on criminal, credit and income information from the tenant.

If you have good credit and a down payment, all the better.I have financed many properties both directions without problems.

Tell him you have a 900 credit score and I’m sure he will say that’s great.

Then there’s also accountants, attorneys, and credit repair specialists who work with individuals with issues that prevent them from getting a mortgage. 

There is not a blanket rule that can be applied.

@Theodore Arzt Did you complete a full credit, criminal, eviction check on the applicant?

Those questions and conjecture are fun but hardly science - and they apply to any property you own so you've got to ask the same questions on your replacement.