Financing Small Deals - Dallas, TX

[Debra Grumbach]

Just starting out and spoke with a mortgage broker in Dallas, TX. He told me you cannot get conventional financing on an investment property for loans under $70K (which puts minimum purchase price at about $90K). I'm looking to start small buying condos and that price range will not cash flow from the properties I have evaluated (just running the known numbers). He told me this is true for all of Texas. 

So first question, is this true?

Second question, where would you go next? I plan on speaking with my credit union and then local banks and see if they will do a portfolio loan.

Third - he also told me that blanket loans (1 loan covering multiple units are not done in TX. Is this also True?

Thanks in advance!