However, if you have other criteria, such as credit score, employment history, etc, then the percentage of qualified applicants to applicants will likely be lower with lower rent. 

I'm thinking about buy a rental and called a couple of credit unions.

I own 3 units in neighboring, union beach, and 1 in hazlet.

I have been doing my own personal research on this matter and came across a few things; such as FHA loans, possibly leveraging my good credit score to get business credit and then use  it as a down payment on a property, ofcourse hard money lenders,  air bnb, and e.t.c... 

I make over $125k with a credit score above 730 and live in the Bay.

These types of loans can be a good option if you have a good credit score and a solid financial history.

You can find a lender and get prequalified without it hurting your credit score.

Since the property is fairly low cost, I'd suggest going to your credit union/local bank and asking for a construction loan to acquire and rehab the sameYou'll most likely be drawing the funds for construction loan on a draw with payment being wired after the inspection being done for every phase.

Statistically speaking, 28% of consumers with credit scores in the Fair range are likely to become seriously delinquent in the future."

@Ashly Doran Academy mortage is a direct lender with a few more tools in our toolbelt than a typical bank or credit union.