I would look into getting pre-approved for an FHA loan, so you will only have to put down 3.5%. 

The other way to find out before hand is to purchase in only "FHA" approved condo's. 

The advantages of building new smaller properties is they can be built quicker and leased up to full occupancy faster than larger properties, they are a little easier to get approval in certain areas and site work, stormwater and parking development costs can be exponentially lower per unit or per sqft as compared to larger properties requiring significant site improvements.You need to work the numbers backwards starting with estimated construction and development costs, calculate estimated GPR, back out standard operating cost assumptions of 45%, which is average for most new construction buildings of this size, to get to the NOI to determine if the project works.

I’m already pre approved but have been unable to find a property with good cash flow.

Our goal is to provide you with a responsive, well-informed and professional sign with a focus on client approval and your lowest line which will save your money.

However, I do not have the income requirements to get the loan approval.

The prelim research I've done indicates that traditional lenders look for about 50% DTI to approve a loan.I have an annual W2 salary from my job, so my monthly income is basically fixed. 

Is it the process to be approved through the HUD Vash program?

@Trenton DossI’ve had this happen before so I’m really scared to trust someone when they ask for a deposit now and they push you to make a commitment or you won’t be approved.

I would start with finding a lender and see what you can get approved for.Good luck