I couldnt count "future income" so they think I was losing about $2000 monthly when in fact I would be making at least an extra $2500 with the new place.My buyers broker suggested a mortgagor that has many loan products including a 20% down nonconforming mortgage.

However there are FHA products that allow some limited rehabilitation funds.

As you are vetting contractors, I'd recommending trying to understand what product they will be using. 

Well when that happens obviously there isn’t as much production and it goes down the line.

My cousin has a $75k/year job with excellent credit (he’s been working there for 4 years) How do I structure using his income and credit for a loan to buy a rental?

If you could find two flip-and-hold properties a year that met even a 90% cash-out refinance metric, you could build a portfolio of a dozen rentals before you even had to think about where to access more capital.That might be a slower strategy than you hope for, but if you did it that way, you'd definitely have a stable, productive portfolio that would spin off a fair amount of cash-flow.

You're at least a $100k shy of getting into single family product.  

Currently, I'm having great difficulty finding an excellent tenant to move into my house.

@John Warren that’s excellent that your flip allowed you to partner up and invest in 29 units, that’s absolutely something to be proud of!

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