Banks will typically limit you to 4 houses before they cut you off.If you do things the way I do them by using "Subject To" to buy the properties, you get in more cheaply and there is no bank to cut you off so you can do as many of these as you care to.

@Michael Pears I understand the capital tied up in the properties and that limiting me from purchasing other deals in the immediate future, however, the cash flow that these three units are producing, I would need to put at least as much if not more capital into three or more other properties to get the same amount out.

;)Monkey Power!

I could never function without my power tools, for others the sound of a table saw is frightening.

So I feel it's definitely a limiting factor to a sale.I feel like I'd be narrowing down my possibilities of a successful transaction telling the seller I'll cover it and expect a unrepresented buyer working on their credit to bring a huge EMD, Purchase Option, and/or pay elevated rent. 

Better make sure he signs an unconditional release of lien, he wields a powerful tool over your property if you try to sell to someone else.

These are often called portfolio lenders because they keep their deals in-house and only have to get it to pass muster with the bank's board of directors (BOD), or some long-term, trusted loan officers have a limit up to which they can approve loans without consulting the BOD. 

As long as you plan on occupying one of the units and there are no restrictions then it usually isn’t a problem.Occasionally, some programs might be limited to single family only...

Smart you have a FT and PT job- I think you should essentially dive in.. but not make a "bad purchase" , since you can't win on the sidelines You absolutely want to have reserves when you invest, it would not be smart to have limited capital since if you have a major repair, you will be in trouble. 

My property manager knew that I was looking to acquire more units and brought this deal to me, power of networking!