Tenant had bad credit which he explained (540-570); I wanted to rent the apt for the winter so I wrote a 6 month lease and explained we could extend if all goes well (lease dates Dec 1 - Jun 1).

My credit is a 745 on credit karma.

If there is a value add play then it can be possible but another option may be upping your purchase price a bit and asking for a larger seller credit to offset cash needed to close. 

I am a 32 year old male, great W2 job(130k annually, firefighter/paramedic), I have perfect credit, own my primary residence and have plenty of money in the bank.

*credit score around 830*dti ratio of right around 50% (even with my meager income and not counting any income from my wife).

I have applied with Chase and a local credit union and have been rejected for lack of credit history.

On a side note, I am a W-2 employee and have a 740 credit score. 

Hi @Patrick M.A tenant should get credit for the payment when they initiate it, not when it clears. 

Production for real builders our builds take 5 to 7 months on average..

If the answer is that you have no money or credit, then you should walk away from the deal and find something else.