Wholesaling and Flipping interest me most, although I'm not counting out other investing avenues.

That sounds good and all but the bank does not count that as income, and obviously will hurt me in the process of getting approved for a loan.

I was also told that the two houses count as a liability and not an asset until I have two years experience as a landlord( Debit to income ratio is to high).What is the quickest way around this problem?

Does the 1st mortgage count against my debt-to-income if I plan to rent?

I am assuming I have 2 loans according to this count and my wife has 1.

We are working on our third rental addition.The goal of joining BiggerPockets is to expand the footprints of my personal holdings and that of the partnership with other rental acquisitions via education, community involvement and your guidance.I accidentally found BiggerPockets recently while searching for a real estate book on Amazon and was really impressed with the site's content, layout, ease of use and its genuine contribution to the real estate community without exhorbitant fees.I look forward to increasing my knowledge with the webinars, podcasts, #askbp, forum engagements and other exchanges.By the way, I challenged myself to listen to at least two podcasts daily starting with #001, until I am at the current count. 

The additional (rental) mortgage will count as debt and he will need to offsetting income (a portion of the rental income?).

Remember if you get a car loan that will count as monthly debt when you go apply for a mortgage which will effect your dti.There are other ways to build your credit besides a car loan.It's as simple as paying your bills on time and charging a thing or two on a credit card.Have you pulled your free credit report at annualcredit report?

Ever want to have an inspector want to count drywall screws, wait 3 weeks to have him check the mud?  

The deferral is typically for 12 months and I believe this 12 month payment relief loop hole allows you not count the payment on your DTI.