Quick question, if an owner finances the purchase, say 90%, and I am bringing the difference in cash, is that loan counted as one of my 10 loans I can have under the Fannie Mae guideline?

You can do this through Fannie Mae and it would need to be put together as follows.Example:Say each home was selling for 100K and you're putting down 25% on each one.  75K at 4.75% = $391.24 and let's say taxes and insurance bring the payment up to $550.Lease agreements are all at $750 and you can use 75% of this income immediately. 

Quote from @Michael Ream:  Hi  i  tell them sbout ho Fannie mae loans can get them a credit boost if they pay us online electronically via their bank ontime then show them this. all want to raise credit scores so pay us first. https://www.businessinsider.co...

I then reduced it by what my renovation costs would be to get what I believe is FMV.In my opinion, Fannie Mae is asking too much which is why I've been waiting for this last price reduction.

However fannie mae offers homepath reno loans to investors on some of their properties.

Fannie mae has a special cash out refi program for people that pay all cash for the deal.  

Based on the changes each organization has implemented over the years: 1) how might an investor stay current on Fannie Mae and Freddie Mac lending criteria; and 2) other than referrals, what are some ways to locate knowledgeable and investor-friendly lenders?

The "owner occupancy rate is 15%"There are no Fannie Mae refinance  or loans that will fund a condo with less than 50% owner occupancy. 

On my first investment property I took the bank's word for it and at my second property I became wise to the fact that most regional and large banks (especially mortgage banks like Quicken) only interpret Fannie Mae and Freddie Mac lending requirements and operate based on their interpretation.As I started talking with smaller and smaller banks, I found they are much more willing to lend based on their own decisions rather than interpretation from Fannie or Freddie.

Selected a market and began looking for deals on Fannie Mae.