In my experience with this type of loan, options are very unique to the lender and what conditions will be applied to the loan or property and quantity of properties allowed or better said minimum.

These are factors you have to take into consideration, and that doesn't include the condition of the property itself. 

My concern is always that a good tenant will come along but be turned off by the current condition. 

Because we have a very healthy chunk of equity, properties in excellent condition, strong cash flow and a good amount of reserves.

Recently purchased a duplex that's in really bad condition for hopes of appreciation and gentrification of the area.

The shock of the 2008 housing bubble birthed multiple stimulus packages (housing credit, cash for clunkers, corporate bailouts), so I wonder if more stimuli will be implemented if our economic conditions continue to worsen amid this global pandemic.  

I am not so worried about the condition of the property as I am the ARV in the area.

In another way of saying is i'm trying to find out what the minimum condition a property can be in for a FHA. 

This number can potentially go up using a HELOC as a 2nd mortgage.Also, depending on your middle credit score, the maximum DTI is 45% or less.Of course, all of these calculations are based on the current fair market appraised value of your property.If these ratios are too high or the appraised value comes in lower than expected, the lender could require the cards to be paid off at closing as a condition of final approval.As far as the deposits are concerned, a "large" deposit can be seasoned in your bank account for a 30-60 day period to avoid having it become an issue in underwriting.  

We get funding conditions on 3/24 and send them all in asap.