I should add that both of our credit scores are excellent, and that we have 2 fully paid off properties from which we could draw equity.Would anyone be able to speak on this matter?

As long as your DTI and payment history/credit score are good - you should be, too!

I have since paid that money back to the cards, but is there anything i can do other than wait for that score to go up? 

He/she wants to get a fast commission.Accept a Section 8 tenant, only if they have a 650 credit score or better, the same as you would in a market based tenant. 

I'm currently interested in a multifamily home investment and my credit score is great.

You want to be ready to prevent getting pre-approved multiple times which lowers your credit score. 

Also, with a loan where the borrower pays capital + interest, the capital payment make you lose interest money since it applies to a lesser amount than the 10 000$ used in the example.Also, if you refer to flip123.com (which is the website of a previous BP's podcast guest), he was able to maintain ROI over 300% while flipping houses over several years (and also made a million in profit over 50 flips).If I were you, it would be a no brainer.

Low credit score do to medical issues have kept me from going to traditional loan.

The owner doesn't make anything but it could save their credit score.

Score one for the brokers lobbying to protect their jobs while adding zero value to society.