The investor gets as much cash flow (after all expenses and debt service) as they have equity, so 50%. 

You may never see anything come back even after 3 years time which is why you need to be aware of the redemption period, once it's up, take action on a foreclosure to either force the owner to pay or take possession to the property. 

I have virtually zero debt-to-income and have opted to continue renting and invest in rental properties instead of buying my own home.

Finally, my hard money lender does not require seasonality, and they don't care about debt to income ratio.

It would have to be owner-occupied and I'm not sure if they allow multi-families but, if not, you might be able to rent out rooms.Banks will also look at your debt to income (DTI) ratio. 

Will you still be able to cover the debt servicing and expenses?

2/ you’re buying from a turn key company so they have to make disclosures to you as well as a closing cost sheet prior to you closing and taking possession.

Keeping that in mind, many have more equity in their properties and some believe strongly in having zero debt and paying off the mortgages as quickly as possible rather than continuing to buy more properties through refinancing.I have at least 30% equity in every one of my rental properties.

That takes time also, keep paying on time and credit card debt in check!

It's mostly just about the numbers.The most important factor is the debt-to-income ratio which determines how much you can afford.