I am currently interning at a mortgage fund that does hard money loans, so I know some people there that have been helping me. 

Is there a way to get loans on rentals properties for less than the 15-20% standard, and if so, how?

The house just needs to be inspected to ensure it meets Section 8 standards. 

He told me what they are doing is standard, blah blah blah.  

Basement:- Ikea Kitchen w/ laminate countertop- new standard doors/frames/hardware (lowest prices ones)- New Ikea washroom vanity/fixtures- convert existing shower to bathtub (standard)- stainless steel appliances (get lowest priced ones)- stackable white washer/dryer (get lowest priced ones)- pot lights in living/kitchen/hallway- standard light in bedrooms- enlarge livingroom window (to get permit)- new flooring - Luxury Vinyl planks- AC/furnace/Roofing - 16 yrs old (should I replace before refinance?

Type of loan I am going to use is a standard FHA 203k.

@Edward Kanive It will be very hard to prove to the IRS that you and your wife meet the standards that @Taylor L. listed above. 

The standard contract isn't assignable unless everyone agrees.

Section 8 adds a standardized lease, annual inspection and a subsidy to enable the prospect to afford your rental.You and Tenant sign your lease and the S8 lease. 

We focus on Florida and work with a number of international investors since we are experiencing a ton of growth here.