I see far too many people that don't understand what they're getting into and depend on the kindness of strangers - Which sometimes works and sometimes doesn't.I'd count your costs as tuition, but you seem to be aware of what goes into deals, so you'll do OK from here on.

I know banks will count a portion of the rents towards your income which will help you qualify for more.

or does that negate         the 50/50 percentage and somehow count as self employment income, employee, manager instead of member managed, etc.?     

I am wondering if that counts a disqualified person?

The counties are constantly building new schools in order to keep up with the increase in child counts.

If you bought one that could be improved, you might be able to refinance and pull out your cash and do it again, either with another loan if you qualify or can count the rental income from #1, or with owner financing on #2.

Unless you count appreciation, which isn’t that reliable. 

I count him as a personal hero and I am trying to more or less emulate his strategy.I am looking to become more active in my local area. 

I've got more than that in my change jar, not to mention the thousand bucks or so in rolled up change in the gun safe from getting bored a few times a year and counting that jar.I feel sorry for people like this.  

The closer you get to the 10 property count, it gets a little harder.