Could I do it with a conventional lender using a 30 year fixed? 

The fundamentals of the question is whether to put down a large downpayment using a big chunk of equity to have a lower payment and purchase fewer cashflowing rentals or put down a low downpayment and buy more cashflowing rentals.

Make sure you are using a lawyer, though. 

The idea of using a profitable business to help acquire real estate is being done by many people in many different ways. 

I have no idea what I’m doing re: drafting said lease :)I am using a site calls EZlandlordforms.com to give me templates.

Be careful using a conventional loan because you may not be able to use the rental income like the example above if you do not have a current housing expense (live rent free).

Tenants save money when using a shared meter, so there's plenty of room for error when calculating how to distribute the charges. 

It's best to open this link using a computer. 

@David Sussman right now I’m using a different skip tracing program and out of the phone numbers that I get, I can get 40% to 50% of those people on the phone.

If the investor is using a HML, offering a second position may be challenging as most lenders prefer to be the sole lien holders.