I probably have about $200k to allocate to additional deals if I have no other income coming in, which gives me runway for another 2-4 deals at 25% down + rehab costs.

This can work out if you have the run way and the market picks back up, however if you don't have the run way you are in a bad position. 

Look for ones where there is enough runway left to continue to ride a wave of demand. 

Keep in mind your debt to income ratio will start to be impacted at some point so you might start to run out of runway. 

Would need a lot of runway for me to feel comfortable.

I keep a 4-6 month runway in cash in my portable storage business checking accounts.

Then go refinance as much as you can into Spouse A's name alone, and as much as possible just into Spouse B.Now you've each got 4 and 8, or 6 and 6, or whatever, but below 10, without selling anything, and  each of you individually has lots more runway to work with.Go ahead and move all big liquid savings / down payment funds into a joint account with both names on it.

We are investing in markets that we feel have some runway left in todays market cycle.

Eventually at some point you'll have to shift toward making the 25%-ish down required for conventional commercial loans, but those first couple of doors can get you started, and cash flow can help shorten the runway to the next deal if you continue to live frugally.