And others say, keep buying as long as it's a good deal.Could someone explain a little more about "just make sure it's a good deal that cashflows and you'll be fine?" 

When we explained our situation to the finance company, we were told that I would need two years of 1099 receipts to be eligible for either refinancing our primary home or getting a loan to purchase another rental home.Can anyone please provide some guidance on how we can either refinance our current primary home and save hundreds of dollars a month +\or figure out how we can get the down payment and mortgage to purchase a second rental home?

@Brian Stewart can you explain what you mean by "the equity would be lacking"?  

let me explain with an example:Purchase price: 200kRehab cost: 100k (with a non-partner contractor)Charge by my contractor: 50k (only material and labor)After Rehab sale price: 300k Profit: 50kMy question is how should we share the 50k profit?

She explained in her email to me that the chance to save money is too hard to pass up and as is willing to lose her deposit if she opts to move out.

Please explain the 0% interest rate on the first.

Or you could simply knock on the neighbor's door and try to explain your position.

Normally since l goofed ld probably explain to that person and just let the person know before they do application.

Explain what each of you wants to the atty.

Make sure it explicitly explains the process for termination if you are unhappy with their services, but especially if they violate the terms of your agreement.3.