Delayed financing exception should be an option with almost any national and / or regional bank. 

You need to know if the buyer submitted tax returns, W-2’s, bank statements etc.Realize that an fha buyer can Not sign a purchase within 90 days of the date You bought the property, or it will never be funded.

talk to a lender about the underwriting before you buy the house. so you know what to expect the whole way along. if you use a fannie loan, it'll be 75% ARV yes you'll need a good credit score, exact requirements will vary by lender.all banks are different, you can't get a specific answer to a general question. you must ask the lender you're going to use what their process and requirements looks like. 

Income Evaluation No of Units Unit Rate Income       2 Bedroom Unit A 1                 650.00                                    650.00           2 Bedroom Unit A 1                 650.00                                    650.00 2 Bedroom Units A 1                 650.00                                    650.00 2 Bedroom Units B 1                 650.00                                    650.00 2 Bedroom Units 1                          -                                               -   3 Bedroom Units B 0                          -                                               -   Garage Units 0                          -                                               -                  -   Storage Units 0                          -                                               -   Laundry Units 0                          -                                               -   Comm Units 0                          -                                               -   Comm Units 0                          -                                               -   Comm Units 0                          -                                               -   Total Monthly Income 5                                    2,600.00 Total Annual Gross                              31,200.00 Total Annual Cost / EBIDTA                                9,911.86 Net Cash Flow (Annual)                              21,288.14 Net ROI 42.39% Monthly Cost of Operation By Landlord By Tenent Monthly Annually Monthly Taxes x                                       137.50             1,650.00   (From Historical Data) Montly Space Rent (MHP)                                                -                            -   N/A Monthly Insurance x                                       100.00             1,200.00 Calc'd Monthly HOA                                                -                            -   Posted Monthly Water/Sewer   X                                       320.00             3,840.00 Estimated Monthly Garbage X                                       160.00             1,920.00 Estimated Monthly Electrical X                                                -                            -   Tennant Monthly Heat/Gaas   X                                                -                            -   Tennant Monthly Other Utes x                                                -                            -   N/A Monthly Yard Maint x                                         20.00                 240.00 Estimated Monthly Maint - Op Ex x                                       260.00             3,120.00 Calc'd - 10% Cap Ex x                                       260.00             3,120.00 Calc'd - 10% Monthly Vacancy x                                       182.00             2,184.00 Calc'd - 7% Screening/Tennant Management x                                         20.00                 240.00 Estimated Monthly Management x                                                -                            -   At Risk - Self Manage MONTHLY OP EXP                                   1,459.50 Total Annual Expenses                                 17,514.00 Total annual Debt Service                                   8,452.36 Net Operating Income NOI                                 13,686.00   Net Income                                       5,233.64 ROI % 10.42% Low/Average CAP Rate (Net Income/Purchase) 2.92% Extremely Low  Cash Flow per Door                                       109.03 Very Low  Tax Assessment  Estimated Expenses - 50% Rule                                       159.50 Conservative Banked Amount - CAP Ex, Repairs, Vacancy                                   8,424.00

I'm dealing with a small local bank and they're aware that I won't be residing in the property.

I was thinking if I could pull an equity line of credit on this property (in my business name as the business owns the property currently), pay myself back the original investment costs and rehab, I could use the remainder of the equity as a bank per say.

The bank listed through Hubzu instead of a foreclosure auction. 

Talking with a few local credit unions but wanted to see what some national banks would offer.

Seller seems very motivated per discussion and is willing to just walk away from the property and let the bank foreclose.

Hi Ryan-Banks generally won't count rental income unless it was reported on your taxes, correct.