In a competitive market a cash offer looks better than an offer with conventional financing as they know you can close and close fast.

just did the measurements with a digital tape measurer., off by 30%, which is huge.

Finding a conventional lender that will go over four (per person) is hard and you may need to look into portfolio lending.

With enough equity it's likely, but typically not with conventional loans. 

Anyway, how you finance these units will really depend on what your plans are for the units.Since you have separate buildings on separate lots you may want to consider financing each with a conventional loan.

She also had a mortgage lending business and worked with our buyers, as well as other buyers on obtaining loans (both private and conventional, etc.), as well as developing properties herself, so she's a great source to get to know, besides, she was born there and KNOWS the areas. 

@Lee SchramWhy can't you use conventional financing?

Is there a low end limit on how little a bank would conventionally finance a home? 

If you're not "married" to your local market here in the Inland Empire then your thought of investing in the Midwest is likely a prudent one.For $90,000 to $130,000 you can get a three bedroom home in a great neighborhood that generates double-digit cash on cash returns.When you live in an expensive market where the rents are relatively low to the purchase price, it is difficult to get attractive rates of return.  

I wondering, when trying to finance a property with an FHA or conventional loan. does the bank take the rental income in to consideration.