So you’d still have plenty of funds left to pay off debt. 

Finance 101 states debt is only used when it can create larger returns than the interest cost associated with that debt.  

I am still working full time and can let my full rental income take care of debt since my wife and I make good incomes ourselves.  

Usually the best place is to reduce debt because that is the same as getting interest paid at the rate on the loan or credit.

I purchased it with a HELOC so higher interest debt until I can cash out refi.

Torn between using my VA loan or use my investment property below to help fund my deal.Been losing deals left and right due to the owner occupied rule with VA.I have about 30k in savings, 30k retirement fund, no debt, low expenses (living with parents until find a place)I Own (under my name) a 5 unit mixed use building (4 residential, 1 commercial) fully occupied.

In realms where shadows veil the light,I shift possessions overnight.Deferring burdens none can see,I weave the threads of property.A spectral path to trade unseen,What method moves behind the screen?"

Luckily, it's directly spelled out in our governing documents that assessment debt can't be passed from previous owners to new owners. 

I confirmed that his parents had no debt on the property. 

Find a good property being totally mismanaged - offer to purchase 60% and take operational control selling your property management expertise and future profitability, providing property owner/seller with enough cash to pay off his pressing debts keeping current loan in place.