While its nice to borrow as much as possible, the risk involved can sink someone as in most instances their is personal guarantees involved and lenders will bankrupt sometime to try and get every penny they are owed. 

This strategy involves having a third-party entity hold the replacement property while you complete the sale of your relinquished property.

Appears REATLOR does have a "SINGLE PARTY COMPENSATION AGREEMENT"Would this work? 

None of my clients do the "co-GP", its a very thin facade...light on substance usually will land both parties under federal trouble...

@Tyler Condon, it isn't proper but people do make side deals where the parties exchange money separate of the closing but at the closing table.

However as with any investment there is risk involved the investor is responsible to conduct their own due diligence.There is an existing property and a lot next door that is a blank slate.

I would say your best bets is a gym as a tenant amenity or a community room that tenants can rent for family functions, parties, etc. 

I'm opening my second home and find them extremely rewarding but think I may stop at these two because I am extremely involved in them and am spreading myself too thin I think. 

*My Grandma also pays the property taxes; I really have no knowledge of what's going on here with this property outside of people living there rent-free.Next Steps: What are the typical steps involved in initiating a partition action?

From the hosting side it is a 20 min turnover and there are no parties with just 2 guests.