This puts me on track to have the equivalent of six single-family homes in two years and I could easily exceed that since this year is just starting.As I acquire properties, the cash flow will go to reserves for major improvements, emergencies, vacancies, etc.

Don't consider using a basement unless it has egress windows, proper emergency exits.Smoke detectors in all bedrooms.Your neighbors may not appreciate your number of roommates so keep it on the down low, no yard parties or noisy stuff outdoors. 

You will be surprised by the variety of answers you get to the same questions put to different lenders.  

So, you might be surprised by how many will do a deal because you seem trustworthy and likeable.

No surprises to sellers when 3 days before closing the buyer's tax transcrips haven't come through or their statement shows a cash deposit that can't be accounted for or, surprise, they are on the dead-beat dad list in some state that would have been found out if final approval had taken place before they saw a home.  

Unless its emergency issue. 

If it is an emergency, we have the right to enter at any time. 

I explain rent increases several months in advance so there's no surprises.

Then there's no surprises, and if there is, unless it's material to the job - i.e. something that couldn't be predicted about the floors beforehand - it comes out of their profit. 

That's not to say you won't get surprises, you will, but generally I keep a reserve to handle these things when they occur.