I work with a mortgage broker who takes care of all the paperwork. 

Looking online, responses say it adjusts every 6 weeks or so. it has never reduced so far.

- What should the desirable mortgage/rent ratio be for my properties- Should I begin saving up an emergency fund for repairs and maintenance before I actually purchase a property or should I begin doing that once I own a property- Do you think Louisville, KY would be a good location to stick with, or should I look for a new areaThanks in advance for your suggestions!

This price hike suggests a competitive market, with supply increasing relative to demand by a notable 21.4 percent, resulting in a 1.7 months' supply of homes for sale.This recent development in the Charlotte real estate scene is likely influenced by a combination of factors, including a dip in mortgage rates in December and a nationwide increase in housing supply.

My fiancé and I make about 10k a month and the new mortgage payment estimates are between 4-5k.

I occasionally enjoy co-hosting (splitting costs) for client events with a lending partner but that is pretty rare as most lenders just want to hold "first time home buyer" classes/events or co-brand online ads for home buyers.  

If so, does the rental income give you any extra cash flow, or at least cover the large majority of the mortgage/expenses?

It’s an open end mortgage or a.k.a debt just like a credit card.

I have a mortgage broker but was wondering if I should check with another mortgage lender to make sure I am getting the best deal.

It's got a $200K mortgage on it with a value of... at least $325K.