But low and behold, I counted (14) other training/resources they didn't tell us before we paid for the workshop thinking that's all we needed (well not me.... my pops, he paid).Nevertheless, we in it together. 

To count as living SF it has to be heated and cooled...and permitted.

I'm counting down the days until closing.

I'm not sure if it still counts as small scale but I originally developed RentTracker for myself and now have 100k+ users over the past 15 years or so.

Remember you will need cash reserves and retirement funds can count towards your reserves as well at 60%.

Either one of us can individually qualify for the mortgage, but we don't want to both be on the loan, because I think that will limit our future mortgages...In other words, I believe each individual can qualify for an X amount of traditional loans, but if we do a loan together on this deal, it will count as each of us having a loan.... thus limiting us in the future? 

No equityOnce the bank forecloses they have that on their books counting against their reserves if there is no equity they may sit on it until market comes back.  

Of course this will greatly amplify the risk and reward side in point #1.3) In case everything does go to hell in a year you should make sure whatever you buy isn't a place you aren't counting the days to get the hell out of or stretch yourself way to thin getting into it.  

Do not forget to consider that it will take 6 months – 2 years before many lenders will consider your rental income as part of your actual income, and even then they will typically only count 75% of the rental income.

You can always check listsource.com for counts of particular properties without purchasing a list.