Will I be approve for a loan to buy a house plus the rehab work if my credit score is good but I dont have a lot of money in savings?

I'd focus on saving more money and making more money.

That being said, the new goal is to find a SFH that can cover the mortgage while I save for more properties and ultimately provide positive cash flow when I decide to move out in the future.

They have a duty to investors to maximize recovery and minimize loss.

Thinking about how to minimize risk on current residence, while maximizing its appreciation to purchase a rental property... 

I have some money saved but I know it is not enough? 

Although the time saved might be worth the extra premium...So I've been to Birmingham a couple of times because I used to cover that area at my last job, and I thought that the city was really nice.

This is not enough money for me since I would also like to pay off my condo to maximize my rental income.

The other property purchased with leverage still allows you to participate in debt ratcheting and maximize your roi through debt.From the date of your sale you have 45 calendar days to identify your new potential replacements. 

For those who are able to save more than $30k a year or have substantial liquidity (over 200k), being a landlord and especially flipping is a lot of work.