However if it is a larger property I comp it like I do a commercial property with a cap rate and with cash flow.

Gifting equity in a house may be more trouble than it is worth if you are not near the life-time exclusion1) Potentially having to get the property appraised everytime an equity is gifted2) Having a title company update the title every time3) Exemption of the gift tax return is normally for cash gifts below the annual gift tax exclusion, you may still need to file if you gift non-cash4) If there is partial ownership over several years, having to properly pro-rate certain items such as real estate taxes, mortgage interest and rental income if the property is a rentalBest of luck 

That is tight leverage for an investment 2nd position loan.A private investor might be willing to do it, it's not going to be cheap at all & will be short-term money & will not be a line of credit to take out at your liking.What is your rate on the 1st?

There is no point refinancing the almost paid off property to buy another-just get a mortgage on the new property.hard money lenders are going to charge you a higher interest rate.

We do want to settle in a little bit here while continuing to do our homework, but hope to get into something in the next 6-12 months.With the way interest rates are looking now and what little I see on public listings, I think a smaller multi-family that needs a little rehab would be the best bet. 

If you want to sell this property, you need to let someone inspect it at least once and the discount for due diligence needs to be worth it. 

especially now with rates up.

As far as your next property, if you are already considering moving you will get better loan options + interest rates if you decide to live in the next property and rent out your current house. 

CA has the highest sales tax rate in the country.

Im self employed, roughly make $130k gross anually, 1099 NEC , no debt at all, 740 credit score.  Want to get a loan for $250k in AZ