I am not too sure where to post this but here it goes.My mother was recently laid off from her job of 37 years.  

To me, if you have some money from your day job or some extra cash flow from other properties, it is okay if it gets a little less than 1%.Cheers!

There are questions I need to ask to give a more complete answer like do you have a W-2 Job?

My reasoning it this:  We all have heard of people buying a property and either due to market conditions or possible loss of job they either lost the property due to foreclose or took a bath selling it.  

I’m primarily interested in flipping houses and/or buy/hold rental properties so I can eventually not have to work a 9-5 job and can spend more time with the kids and wife. 

I spent years working in dead end jobs and going to school for degrees I didn't use. 

You're going to have a tough time finding a lender, you need to increase your pay or find a new job/partner with someone.

Both my girlfriend and I have significant debt from school and haven't held a job in years, but will both be eligible for "physician loans," which offer competitive rates with 0% down and usually don't require anything more than proof of contract with a residency program.

You are expecting 2189 a year at your calculations, however, its actually 2 units, so you are getting 1050/door/year which is pretty thin for the privilege of a mandatory job as property manager for 2 tenants, since you dont have enough budget to hire a real PM and scale your empire.

., in the past and they did a good job for me on a 90k renovation.