My wife and I recently purchased a house and rehabbed it and it is currently renting out for the same amount as the mortgage payment.

You’re already at $360k with Reno and lost rent, $6,000 in mortgage payments plus a thousand in taxes/insurance, another thousand for utilities.

This is scary to me: Two deals, no money, How does he plan on making the mortgage payments?

As I understand in Colorado the Landlord is ultimately responsible to cover costs of pest control. However, I have seen LLs put in the lease that the unit is guarunteed pest free at time of move in and any costs durin...

If so, what have the lenders you have spoken with so far said about the minimum down payment you have to bring to the table? 

My long term goal is to save 20% down payments plus 8% reserves for each house and attempt to buy one per year.

These repairs I speak of were all done 'in house' by the PMC so no payment was made to an outside company.

Whether you prefer to read hard copies or listen to audio books(my preferred method), here are a couple on the topic of Wholesaling.The Ultimate Guide to Wholesaling Real EstateThe Beginner's Guide to Wholesaling Real EstateBigger pockets also has a book on the Subject How to Wholesale Real EstateHope this Helps and gives you somewhere to start.

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

They are asking for 20% down and a 3 year balloon payment.