In regards to Real Estate, this could be more of an advertising issue that could lead to a problem, or it could be totally fine but Anything is possible - in a dystopian world I could see this turning into a discrimination complaint when you have 2 separate tenant applications.

I also go over the speed limit sometimes. :)

I am just starting to accept applications from people with pets in my two 4-plexes.

If you are considering a 40-50 unit through syndication (using other people's money)...why limit it to 40-50 units?  

He knows the property type, the area, you, your style, and can give you far more applicable counsel than anyone here.Secondarily, I would plug all of your assumptions into the BP calculator and post the results.

I, for one, will start asking to see a government id to ensure the name on the application matches the person handing it to me.

The loan limits are different for 2-4 units properties in regards to the VA loan.https://www.benefits.va.gov/homeloans/purchaseco_l...Respectfully,Rosanna Shepard

-I spoke with the lender who admitted to me on the phone that the buyer never filled out the loan application, and that they gave income and employment information on February 5th, days before my listing was under contract or even on the MLS.

Here is more on Home Possible:http://www.freddiemac.com/homepossible/Here is a lookup to see if your property is in a census tract with no income limit for Home Possible:http://www.freddiemac.com/homepossible/eligibility...For Fannie - yes, it is possible your DTI is too high but that would mean the opposite of what you said for Fannie above (the lender said your income was too high). 

Lets say ARV is 200k, your limit is 65%, so the MOST amount of capital a lender will give you is 130k in a 1st position.