I know they only plan to raise 1/4 point, but mortgage rates key off the treasury bonds which move independent of the fed.

My recommendation if you want to get into rentals is to see if you can find some really flexible sellers who will owner finance or even do a bond for title.Owner finance would be ideal, because then after a year or so you could hopefully refi out of it based on appraisal and seasoning.Bond for title you would not have any ownership necessarily so you cannot use it on a refi as pmt history.Another thought is to buy a fixer upper through owner financing or a lease option, live in it and fix it up and sell after 2 years to avoid taxes (a little more to it than this, but you get the idea).Or you could look into some creative ideas other than wholesaling, similar to Azam Meo's ideas (I personally like his ideas - very creative).Bottom line is I think if you want it bad enough, you will find a way to do it.

It took me over 5 years to rotate my savings from stocks/bond to cash flow (2002-2007) before I had enough cash flow for my living expenses.

If you have no experience or don't have anyone who you can turn to you may want to find someone who can help you out.As much as like multi families and managing them I also own a few REITS and part of my strategy is to invest a good part of my returns from my multi family investments into the securities market (stocks,bonds,REITS ETC) I have dollar cost averaging setup monthly so I invest a specific amount every month into the stock market.

After you nail down this, I encourage you to look at house hacking syndication, coliving property management, and lease strengthening. 

my problem is the wording when it comes to varies terms such as mortgage, deed of trust, bonds in finance, i don't know how these words are used on a contract during a real estate transaction my guess is they are used during the drafting of new contractual agreements where you have pens at some table and multiple indivisuals signing there names at a specified area of the contract, and the words may also be used as contingency personally i would like to speak with a real estate attorney about this issue but i am operating on very limited knowledge 

The Washington Post did a very interesting article last month (link below) that states most of the stocks and bonds we invest in have been over leveraging the companies in order to improve their bottom line and keep their dividends to investors up and stock price up.

When rates go up the risk free rate of return (type of treasury bill or bond backed by US Govt) will rise would want your risk adjusted rate of return to increase based on the same risk premium.To put in English, if the risk free rate of return went from 1.5% to 4% and you had a 8% return (8-1.5 is 6.5% risk premium).

I know that in MN, a business held as a rental cannot have work performed on it, outside of general contracting, by non-bonded/licensed contractors (i.e. it's illegal to do the electrical/plumbing/HVAC in a non-personally-owned property if you aren't a licensed contractor for those trades). 

Here, if he filed a lien you could "bond it off"(remove it) by putting up cash in a court account.