I didn't realize this.I know you aren't on the lending side per say, but follow up question.If I have two buildings in my name with total debt of $900k and I am looking to refinance one of them that has $500k debt, would the 45% DTI be based on the total debt ($900k)?

This leads to issues with refinancing and could leave you with less equity or higher debt than anticipated.

It could also be worth looking into short term bridge debt.

I was just approved for $235k on my primary home and I have no personal debt.  

A couple of things: - If you put more cash down, perhaps there are opportunities on the debt side that emerge - can you find assumable debt? 

Especially in Connecticut, a state in 1 Billion dollars of debt, it's hard to imagine companies being excited about moving into the area.

I don't have anyone I know enough to trust as a partner so I'd like to offer debt positions or equity payouts instead of partnerships.

Improvement exchanges are a little more tricky so if you can structure the exchange where all of your equity + debt reinvestment can be dumped in at one time, you'll be able to do a forward exchange instead of an improvement exchange and it will save you on 1031 exchange fees. 

My main objective is generating a cash flow which pretty much eliminates local market. 

My financial advisor has no interest in my rentals other than to recommend I pay off my mortgages because he is a Dave Ramsey debt free guy.