These loans are all 30 year fixed rate loans.

I don't believe an attorney will actively participate in a process that knowingly violates a loan. 

This will be my first flip and finding loan officers that's willing to work with a first timer has been challenging. 

And right now lenders simply aren't writing loans for less than $50,000.That means the house must appraise for at least ~$67,000.

After recently speaking to loan professionals I have become aware of the fact that after you have a couple of properties lenders will require that you have 3-6 months of reserves for your loan payments for each properties on hand. 

It's a great way to BE the bank yourself, although you do pay simple interest to the life insurance company until you pay back the loan.

Conventional loans usually ask for at least 2 months of PITI in reserves.

You shouldn't be applying for two loans simultanously. 

One strategy might be to purchase one property with cash and one property with maximum loan. 

Accounting for additional properties, set up of depreciation schedules and reconciliation between management company cash flow statements and cost workbook and maximizing deductions for expensing loan costs."