@Robert StephensonIt’s great that you’ve built solid equity in your current rental property— Here are a few options to consider:Cash-Out Refinance: You can refinance your rental property and pull out some of the equity to use as a down payment for another property.

There is a ton of fix and flip going on in Brooklyn and I am trying to work my confidence towards that after my first project at a lower price point around 300K somewhere (CT seems like my only option). 

Just one additional option.  

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However the medium term rental seems like a good option.

I give them a deadline to respond, very clear terms of how we will move forward with the option they choose, and I make it clear this is my final offer.

They have decent rental markets, and there are options where you could get in with a 20% down payment.

Leverage is key and the diversity of options is also good.

Not sure what market you are in, but I would talk to some lenders about FHA options on a 2-4 unit property.

I've helped people with SBA loans to purchase real estate for a business, but for buying rental real estate, the DSCR loan is a much better option.