That's what house hacking is - getting roommates to pay as much of your mortgage payment as possible. 

Plus equity growth would fund the down payment for second property through a HELOC.

Throw in the fact that properties over the next few years most likely will have very low to zero appreciation and they probably do not get you a net of $6k a month even if you considered the principal payments you are paying down and lending right now is a far better situation to be in than owning property - just as the opposite was several years ago during very low rates and high home appreciation. 

Even when they misrepresented the deal and are 2 years behind on payments they’ve faced no penalties.

It’s now mid-November.After double-digit requests through phone/voicemail to almost every phone number option in the menu, emails, messages onto their web site, Facebook messages and comments, I had to initiate a chargeback. 

You would be able to take funds out as needed for the new home and you would only make payments on what you've used (interest-only minimum). 

In the example below, it shows my "Vrbo commission" is 5% and their "payment processing fee" is 3%, so they take a total of 8% (of the nightly rate + cleaning fee + pet fee). 

You only need a place to track tenant information, payment history, maintenance, etc.

Maybe a 7 year balloon payment and maybe a 3,2,1 prepayment penalty of something. 

A conventional loan under an LLC provides liability protection and easier rental management but requires a higher down payment (20-25%) and stricter lending terms, which can reduce cash-on-cash returns.