Generally speaking there are 2 main types of loans for investors: “Conventional” and “Portfolio”Conventional - I'll define these as loans that come from Fannie Mae and Freddie Mac (if you recognize those names).

I recommend you start to narrow your focus and define your target.

Sounds like you need to really hammer out your articles of organization and define your roles before buying any more properties.

I charge the late fee as defined in the lease if the entire rent is not paid.

@Sergiu Micula I also recommend @Zack Karp for conventional mortgages, he and his team are top notch and definately investor friendly, I've used them many times and have always been happy with their services.

For multi-family there are other requirements but for single-family it just says "new construction and rehabilitation" and doesn't list out any other criteria..Also, do you know how it defines multi-family in this case; is it 2+ units or 5+ units? 

Another idea would be to find a partner that would be interested in going in on the deal with you for the short term and define the exit strategy when setting up the JV.  

You need to define your own comfort zone but you need to realize that with low leverage you are missing out on investment opportunities.As for the house #1 and selling it …   Cash flow at a moment in time does not define cash flow over a holding period. 

The longer answer:Clearly define your expectations and what you are looking for from the management team.

@Eric Gebhardt you are asking the right questions - I always tell people to work on two things before they look at property:1.) develop your financial model2.) define your target audienceThe financial model is basically an financial analysis of a hypothetical property.