@Denise CarringerI'd suggest using a third party contract loan servicer.

Due to 21 and 22s boom in MTR/STRs in Eado/Third Ward, this was flashing all types of crashing signs and you dove head in first. 

Third-party referrals work since few people do any due diligence. 

The tenant understands that the property of the Tenant is not insured by the landlord for damage or loss of any kind (action of third party, fire, water, theft, vandalism, storm, heat or cold, electrical damage, pests, mold, accident, etc.), and the Landlord assumes no liability for such loss.

Now I'm renting one room, Airbnb'ing one, and using the third.

. ;-)Yeah, we will NOT work with any investor if they don’t order a third-party inspection.

The third property has a nice cash flow.I am wondering if there are steps I can take to reduce the cashflow issues of the 2 properties before obtaining another property, like pay down the mortgages or should I just save the cashflow from the third property to pay for any future expenses?

If so, then you can start looking for another one. 

Did the son in one of your 4 units declare bankruptcy?

From their point of view they're seeking three primary things:Access to capitalControl of their dealCost of capitalThey likely have a lot of the first two so the only motivation they'd have to accept your money into their deal is either the third bullet.