Help me understand as I'm not understanding the long-term cash flow mentality..What is the ratio of cash flow that I should be reaching for on a month to month for my rental? 

He's a risk taker (just like me), so we are equal in that mentality and he is a trustworthy friend that I've known for about 6 years.

It is very much a struggle for me, worrying about my families finances, and sometimes I feel like it'd be easier to cash out on our equity and only flip houses, and not depend on other people to stick to the lease for us to make ends meet.Do you ever reach a point where you are just comfortable- financially, mentally, emotionally?

I aim for the E4-E5 or O1-O2 tier, which is the widest tier in the "pyramid" of rank, and just above the high-school mentality of the 17-18 year olds.  3/2 SFRs serve new family formation.  

I'm just trying to brainstorm some strategies here, and getting wrapped around some mental gymnastics haha. 

Make it easy.This is not exhaustive, but was curious for those who have gone down this path what else you may have learned so we can continue the education process for others.  

Once you have an FHA loan you are not allowed to have another FHA loan unless relocating a great distance for work.Now that you have exhausted your Low Down Payment Options (Portfolio Conventional and FHA Conventional and FHA) you will need to use a Standard Conventional Loan and put 20% down to get your 3rd Duplex.The sky is the limit...you could continue to buy properties and build an empire or just stop there and enjoy more free time...I have friend who quit his job and just manages his properties now.Keep in mind that this 4 step process I outlined takes time (anywhere from 1 to 10yrs depending on the person) so keep the big picture in mind but don't let it stress you out too much.

If you are an experienced, mentally balanced businessperson, one "bad" call won't ruin your day.

Their point is that some populations such as retirees, the disabled, sufferers of mental illness, etc. are willing to spend a greater proportion of their income on housing (their documents online explain this reasoning).

There are others, that just hit the ground running and take the sink or swim mentality.