If you have any income based repayment schedules, more than likely Fannie will be the best bet. 

I assume one of us needs to apply based on personal credit and income requirements.3) Going forward, how do we get bank financing without pulling our personal income/credit?

The numbers will prove if cost effective based on your time horizons.

Based on the current situation I am concerned that the current tenants are not going to move out when they are supposed to.

They are a lot more flexible in their underwriting (almost nothing personal, but using the house values to base everything on), so you can probably get all the money you'll need from them, then will have a year or 18 months to pay them back. 

In MN it varies based on the type of property, homestead, etc. 

View report*This link comes directly from our calculators, based on information input by the member who posted.

View report*This link comes directly from our calculators, based on information input by the member who posted.

Most of my experience is in Houston but I have made quite a bit of progress building a trade base in Austin (especially Georgetown/Liberty Hill Area).

View report*This link comes directly from our calculators, based on information input by the member who posted.