I would recommend considering conventional financing until you reach Fannie Mae's limit of 10 properties, then consider either a portfolio loan, and start your race to 10 again, or look at DSCR at that time. 

There is certainly a limit to my generosity (also, people like that tend to burn bridges quickly). 

There are a lot of ways to crash and burn, so increasing the odds of succeeding long term should be your highest priority. you can always sell your local assets once you're comfortable managing rentals and ready for a market that better-suits your criteria. btw, kudos for being self-aware of your limitations.

What I can share is that the risk-reward will not be worth it as a 'newbie' due to your limited capital and inability to actively manage your properties. 

But in my imagination it seems like a good way to create some prime real estate in the city limits.

So, to try to go a legal route because they might have fixed something a little over the limit isn't going to work.You will have to face that you selected someone that was not the right fit and be more hands on. 

Auto limits of 250/500/250 and Homeowners liability of 500K should be the minimum you carry.

You've listed the "big three", and those are all that are needed for most MTRs, especially if you have a limited number of doors in an area.

The only thing propping them up and forcing them higher is our monetary system and governmental regulations that limit competition in the market place. 

Lots of cities have restrictions..Arlington limits to a fairly small area of town, Ft.