None of the 3 families meet my screening criteria and all 3 rents are under market value.However, there is nothing I can do until their leases are up.I plan to incrementally increase the rents over two years to get them up where they should be. 

I fresh and brand new to real estate. 

On the flip side, each new hand that touches the deal or the loan, increases the likelihood of a mistake. 

I would also check your comps in rent say go back over the last 5 years and I would bet you are seeing over time increases to your rent in your area due to growth?

According to our data, rent costs have increased by 34% from 2012 – 2016, a sign of strong demand for rental units.Another sign for optimism in the Aurora real estate market is the rising home values.

My monthly payment will increase another 600/month but I would build about 15k/year equity as opposed to 4k/year.  

Debt to Income sounds like your biggest inhibitor, therefore, get started decreasing debt and increasing income.

Also, the online banks are generally the first to increase their rates after the Fed announces. 

I am brand new to the Real Estate Investing world, but I am eager to jump into it.

Another version of this is to go to lumber yard and talk to some of the account reps and see who's in good standing and go from there.Ideally though, hard to beat referrals from people with the same or similar standards as you... this way you increase the chances of success vs starting form scratch.