I invested in a semi-professional camera with an ultra-wide angle lens and I don't regret it.It cost me around $1,000 and I already got that money back by attracting more tenants quicker.

So it is not reported on my credit, but it is reported on my taxes so because I own more than 25% of the LLC Fannie/Freddie count it (not if it was in a S corp or C Corp)  Commercial loans do not use DTI to qualify you, and if it is under $1 million there is a very good chance it will still require a personal guarantee.  

Considering you are just starting out, you can not afford to have your first project go bad, you will make less money on the house but you will gain experience and be in a position to easily attract lenders on your second project.

They are also priced the most expensive, usually in the millions with cap rates as low as 4% to maybe 6.5%.

And because there are approximately 10 million newbie real estate investors out there (my estimate, others vary), contractors get calls several times a week from investors we have no knowledge of.

Because on a sale of $1.5-$1.7 million you're going to be looking at some pretty hefty closing costs.

How about a dumpy house for one million?

Make sure the umbrella insurance policy is at least 1 million.  

I am more attracted to single family residential properties for building equity and cashflow.

I think I pay like $400 a year for $2 million in coverage.