Qualifying for a multi family investment loan

[Rich Hupper]

Hello

I am having a hard time understanding how one person can own multiple rental properties that are leveraged. 

To get the loan for the first property the loan officer is going to require you bring in a 20 to 30 percent down payment. They will also look at your income and debt ratios, how much money you have in reserves, and your income to PITI ratio.

Now for the first property these ratios should be fine. However after the second and third properties how do investors get loans?

I feel like their debt to income ratios would be too high. Wouldn't the underwriter see all the mortgages this person is liable for and say no way?