Also, during initial calls, I would not recommend mentioning STRs or AIRBNB.

If you end up going under the budget, some lenders would still reimburse you for the entire predetermined budget.The Initial Distribution (towards acquisition) would be the total loan amount ($148K) minus rehab budget ($30K) = $118,000.

My main focus would be on; long Term Rentals, Arbitrage, and novation flipping.I don't have much capital to invest initially.

I had a place in an expensive area where the rent initially didn't quite cover those and I had to put in $25 a month or something like that. 

I'd likely purchase initially through FHA or a conventional loan due to lack of capital for down payment on an investment property loan.

So far the tenant has canceled two different meetings and has yet to take the initiative to reschedule.

I've always called a mortgage secured to more than one property a "blanket" mortgage.I'm a residential lender, so I also want to comment on this part of your initial post: I don't want to use my conventional slots.

Still a good idea to get your ducks in a row with a lender and have them do an initial underwriting and have them be prepared to answer a call from a seller, but they likely won't write up a letter.

All by leveraging my initial $7500 investment in 2009.

If they were union, that should have reflected in the initial bid.