If we ask, we can get a feel of the homeowner's financial situation (what they may owe on the house).

The security instrument (mortgage or trust deed, depending on what is used in your state) is what is recorded and that is what secures the loan to the property.

Young lady your that much closer to financial freedom.

The financials are tremendous, unfortunately so is the management. https://www.biggerpockets.com/forums/52/topics/491641-nearing-1-000-college-student-tenants-heres-what-ive-learned

We met with financial advisor and we have outlined a plan to be completely debt free by September-October.

I am the financial adviser. 

And it sounds like they are not in a financial position to do it. 

We're both 26, by the time we're 35 I would like for us to have over 100 Units generating pure cash flow bringing in at least 60-80k/Month becoming financially free in our mid thirties!!!

Like adam mentioned coming from commercial real estate or other backgrounds notes may seem like a cup of tea since many in those backgrounds have dealt with real estate professionals and know what IRR is and how to run a financial model.

It just means that based on your financials, they will fund the deal but they will do their own due diligence on the deal.