A few things I have to consider though is that I have a wife + 2 small children and will probably be only approved for about $150K. 

Finally, my big Why is to be able to educate up to 1000 children each year in Africa or India through the passive income from my portfolio of cash flowing properties.

I have 2 children and share custody with my ex husband.

See Garn St Germain"A lender may not exercise its option pursuant to a due-on-sale clause upon--, (1) the creation of a lien or other encumbrance subordinate to the lender's security instrument which does not relate to a transfer of rights of occupancy in the property; (2) the creation of a purchase money security interest for household appliances; (3) a transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety; (4) the granting of a leasehold interest of three years or less not containing an option to purchase; (5) a transfer to a relative resulting from the death of a borrower; (6) a transfer where the spouse or children of the borrower become an owner of the property; (7) a transfer resulting from a decree of a dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property; (8) a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property; or (9) any other transfer or disposition described in regulations prescribed by the Federal Home Loan Bank Board.

Learn about imputed interest which is minimum interest  Learn about reverse mortgages compared with installment sales , A good source is AARP  Learn about annuities and compare them with installment sales  Use the term legacy, leaving a legacy of your children or church or a charity "The cash flow survives your death  Mr. seller meaning that your gift can be inherited by someone that you care about or some institution you care about" If the seller is gainfully employed with W-2 income, and it's a free and clear house, you can have them get a 50% mortgage, then buy the house subject to existing financing, take over the payments, and give them a single payment note for their equity There are between 34 to 40% of all houses that are free and  clear of mortgages.

I am 25 years old, I have two small children, and I am currently working as a Hair stylist but am no longer fully satisfied with that line of work.

I know several families that have lost children in their own pool. 

Middle Class Millonaire Upper Class Millionaire 1) Making sure your heirs are taken care of :                   66.9%         93.6% 2) Having adequate medical insurance:                           78.1%         76.4% 3) Having enough money for retirement:                          87.3%         53% 4) Paying for children education (529 etc)                        65.2%         28.6% 5) Losing your job or business                                          48.4 %       30.5% 6) Taking care of parents                                                   38.4%        16.1% 7) Mitigating income taxes                                                 90.1%        77.3%8) Mitigating estate taxes                                                   21.7%        81.3% 9) Mitigating capital gains taxes                                         27.1%       58.5%                      

I am seriously considering switching to concrete flooring inside, but got scared by the fact that my tenants and their children might slip and get hurt.

Those with children do not want to be in Rockford 205 schools.