Fannie and Freddie aren't the only game in town of course, but that's where the good rates on a 30YF with reasonable fees are to be found (assuming you don't have a rich uncle, etc).Fannie matrix --> https://www.fanniemae.com/content/eligibility_information/eligibility-matrix.pdfFreddie matrix -->http://www.freddiemac.com/singlefamily/factsheets/sell/ltv_tltv.htm

While most, if not all banks now require a seasoning or waiting period of at least 6 months, this can hamper deal flow, and seem like an eternity in the real estate game.

It's a numbers game.  

These are peoples lives, not a game that when you want to change the rules their lives get upended so that its easier for you.

You should also purchase the Cash Flow game. 

I feel like I have more skin in the game to make the repair correctly than the seller does while he offloads the property. 

Sounds like you are way ahead of the game with that much money ready to invest. 

Welcome to the game and best of luck to you!

First get a property or two purchased and learn the game. 

The broker is your friend in this game.