@Josh Mitchell,  to be clear, do you mean if we do a conventional or any type of loan with her name on the mortgage, it could still count as income for me as long as it's a rental property and for two years?

Without counting your three months in the summer at substantially higher rent, paying $395,000 for it wouldn't even satisfy the 1% rule, would it?

The income you'll generate from the other two tenants will count towards your annual income to qualify for the loan.

Yikes, I would definitely not just look at the defendant list and leave it there.If Bank America is the first lender and then they give a second loan at a later date and then they foreclose is that not counted as the one party? 

Wholesaling and Flipping interest me most, although I'm not counting out other investing avenues.

That sounds good and all but the bank does not count that as income, and obviously will hurt me in the process of getting approved for a loan.

I was also told that the two houses count as a liability and not an asset until I have two years experience as a landlord( Debit to income ratio is to high).What is the quickest way around this problem?

Does the 1st mortgage count against my debt-to-income if I plan to rent?

I am assuming I have 2 loans according to this count and my wife has 1.

We are working on our third rental addition.The goal of joining BiggerPockets is to expand the footprints of my personal holdings and that of the partnership with other rental acquisitions via education, community involvement and your guidance.I accidentally found BiggerPockets recently while searching for a real estate book on Amazon and was really impressed with the site's content, layout, ease of use and its genuine contribution to the real estate community without exhorbitant fees.I look forward to increasing my knowledge with the webinars, podcasts, #askbp, forum engagements and other exchanges.By the way, I challenged myself to listen to at least two podcasts daily starting with #001, until I am at the current count.