Best way to finance 2nd home while renting out 1st home?

[Tyler Clark]

Scenario, 

I live in a new build $500k ($100k equity) primary residence for one year and rent it out with complete success right after moving out. Now I need to buy a second home that is intended to be my primary residence for the next year. I now cash flow on the first $400k mortgage $200/mo, have no expenses/bills/other loans, good credit, and net >$10k/mo wages. What’s the best way to finance a second conventional loan? What are the banks financial requirements for loan approval while holding the 1st mortgage? Does the second loan consider a different debt/income ratio?