He told me he had been a Rich Club member for 17 years and never missed a monthly meeting.  

Your gang of thieves (and it would take a gang) might have better odds  of success knocking off armored cars at high noon or kidnapping wealthy children for ransom (a crime with a near-zero success rate in the developed world today).Get the case number, contact the USPIS independently, see if this rent heist story isn't really a snow job. 

This lender wants 75% LTV one quarter, and boom you blink and they want 55% LTV, or their rates jump up all of a sudden.

My current mortgage payment is around 2700 with interest rate of 7.15

Either could make you more money but dependent on market conditions, location, timeline, roadbumps, rates, etc..... 

I have nice 3-4% rates but just fearful of a hurricane coming through and destroying the homes. 

I am excited to meet with like thinking individuals and both learning and contributing to this group.Thanks Tracy

These are good too, just some silicone needed where they meet. 

With the average apartment in my area ranging from about $1600 and up, having a mortgage rate between $1200-$1400 (again, rough numbers the lender provided me with) doesn't sound too bad considering my money would be going towards my investment and not just right out the window.Now all this sounds very intriguing considering I am ready and willing to take these steps, but with where I am at as an hourly wage employee living paycheck to paycheck, in a VERY expensive town to live in, the numbers just seem quite daunting.

That said, you must also meet the coverage requirements, loss payee/mortgagee clauses, deductible requirements, etc..