Let's look at your situation LOGICALLY:)OPTION #1With your combined $100k for a down payment, you could buy a $1M+ SFR home in California. 

My wife makes less than $3,000 a month but we are able to live off of that and still be saving $1,000 of that a month (so keeping our combined expenses under $2,000 a month).

You'll want to enlist a CPA who specializes in real estate, trusts, & flow-through entities (this is a somewhat rare combination to find in a small/single-member firm, you may want to look at a larger regional firm to assist you if you can't find anyone who suits you at the smaller level).

His words vs actions don't line up and I'd say he is full of crap

Combine this website with podcasts, books, and first hand experience (walking properties, calculating cash-flow, making offers, going through closing) you'll get a free education on REI. 

Making such a blanket statement on item #2 is not reasonable (Im sure you will agree once reading my explanation) as the combined LTV plays a hudge role. if the first was $100k, and the second was $25k and the value was $300k, would you say no way to a $25k loan at risk in second position with $175k equity spread and a combined LTV of 41.6%?

This price hike suggests a competitive market, with supply increasing relative to demand by a notable 21.4 percent, resulting in a 1.7 months' supply of homes for sale.This recent development in the Charlotte real estate scene is likely influenced by a combination of factors, including a dip in mortgage rates in December and a nationwide increase in housing supply.

These guys are hand to mouth, day to day types so the typical hire an attorney knee jerk advice you see in all these threads is just total crap.

On a related subject : (A little bit of good news in a crap world) :  I have a giant, a truly huge, thank you to you guys :  Thank you so much to the many people who took the time to give good free advice to a : A Veteran, a stay at home mom (who had not worked or had income in 27 yrs)   I really do thank any of you who gave me advice 4 yrs ago.

That being said, this data combines several key areas around Boston proper to provide statistically relevant data; it is less likely for big swings from individual towns.