Make sure your insurance coverage covers your total value replacement and not the loan balance. 

If everything is covered and worst case is a new septic/roof/etc then I would have enough in there for the two most expensive worst case scenarios for each.

I had no clue what I was doing and lied to cover that up, it ended friendships, gave me a reputation among sellers and buyers, it was hard to make anything happen.

Stick to the top two and you'll cover 99.9% of the market. 

If so, you’ll probably be paying more as the heat from the roof is coming down.

Here are the details (hopefully this covers everything)Purchase Price - Offered 70k but most likely going to be 75kCurrent Rent: $850 but area looks like I could get almost $1000Repairs: $10-15k possibleA home across the street was sold for 125kI think it meets the 1% rule so want to make sure that this is something that makes sense.

they require a low 1.0 debt coverage ratio so as long as your rents cover PITIA expenses then your good to go, cash out is required to be used for "business purposes" only their retail division is Cash Call mortgage, FICO can be as low as 600 and cash out LTV's from 65-75% based on credit, I used to work for IMPAC as they were rolling out the product, it is pretty competitive in the market for this type of financing. 

Just having credit cards open should not have a hugely negative effect on your credit- however, having large balances on those cards and insufficient income to cover the payments would.

I found that really interesting because  I thought all those syndicators were saving up money to cover those costs.But, keep in mind that is syndicators and they are looking to maximize the returns to their investors.

If you are trying to use the "Delayed Financing" exception a couple of things you should keep in mind, #1 you must have paid all cash for the property (no borrowed funds for purchase) and no liens on the property #2 you can use the maximum LTV allowed for purchase of property (ie. for an owner occupied property 97/95% LTV or non-owner occupied max is usually 80-85% LTV) #3 must refi within 6 months of purchasing the property (so for the most part you are going to use the purchase price plus improvements rather than the new appraised value) #4 property will have to qualify condition wise within the lenders guidelines, so no major work should be outstanding like broken windows, holes in the roof, ect.