I've nothing to add, you covered it. 

Your rental income doesn't cover the value of your equity let alone any expenses.

We added on site laundry and redid all the landscaping.Doing all this allowed us to increase rents 30%+, which means the three rented units cover the PITI for the property so we have no housing costs.

From the rent I have covered property tax so in 2018 I will not have propblem paying property tax and that is why I went to the county and got offer for installment plan for 5 years start this June which again I can afford it. 

I have a friend who purchased an empty lot a few years ago, developed plans for around 200 apartments to be built, but didn't have the resources to cover the construction/interest costs until revenue could be generated. 

I don't have a lot of emergency funds to cover of it.  

You still might get stuck with the overage but you can cover some of the costs this way. 

From my understanding, they will cover 75% of purchase price (25% down payment from buyer) and 75% of rehab costs (up to 75% ARV as you mention), so it would require a larger cash reserve to cover those repairs, which is why I decided to go with another HML for the time being.Looks great though!

Always list your business under the mortgagee clause for the insurance and always require their insurance to cover at least the balance of your mortgage to them or 90% of the value of the property (whichever is greater).

I think if I was banking on client representation as my #1 source of income i would flame out in about 5 minutes.