However, If I have to choose, I choose the one with the lowest balance. 

What's the required credit score for hard money lender to purchase a income producing property 

I have strong credit and a pretty good income.

Long term rental is lowest expense and most stable. 

This will give you an option fee up front, it will also get you a premium on the monthly rents because your going to factor in the rent credit over an above the normal rents, and lastly, this will get you an appreciated sales price because your going to base it on the anticipated value in 2-3 years versus today's value. 

Cap rate is a factor of NOI, tenant credit and external market factors.

.#9 check and see if the water and electric provider have some kind of scam lockdown like a credit freeze that would lock the account from being turned on without your permission.Sorry this has happened to you. 

Credit score is pretty good... between 670 and 690 but my debt to income ratio is high.

There are basicly 3 divisions, or roles to fill here.1 - Managing Partner2 - Cash Partner3 - Credit Partner...and the cash and credit partners can be combined to become the Finance Partner.How it gets divided depends on the type of deal it is...and negotiations.Typically, we will split it up this way:Manager = 40%Credit = 40%Cash = 20%...if there isn't a credit partner (all cash deal), that 40% is split 20/20 between the other two...with the understanding that if a credit partner is needed, that 20/20 is given back to the credit partner.

You don't have to take the lowest bidder and the contractors have ratings sort of like ebay buyers & sellers.