Then after your exchange you could do a cash out refi or a lower rate as well as access some cash for a rainy day. 

Work with a broker who has access to a large variety is going to help you find an appropriate option for your situation vs a direct lender who can only sell you their limited product set. 

Each loan product type has different rules and restrictions for using rental income to qualify for new purchase, and some can wreck your plans (such as the FHA 100-mile rule).

It's not that they didn't have access to the info that told them to save their money, it's that they ignored it. 

The two units are currently accessible to each other by doors.

We're so excited to start our investing journey somewhere more affordable/ accessible!

Is it clear access or hard to get to?  

Today they sent over the listing agreement, but won't have interior access until the 26th of this month.  

With your own capital and access to other individuals you know well that have capital you could start that way..

Which of course also means people with access to low cost capital already.