Quote from @Jaren Taylor: Quote from @Chris Mason: If you have the ability to market and raise money, then you secure the down payment, and do the normal commercial mortgage process. 

THEN, I plan to purchase the second home using a FHA or conventional loan (3%-5% down), for which I will likely pay the monthly cost out-of-pocket, maybe with some rental income support if it is a duplex.My concern is, I do not want to spend my savings or weigh down my debt-to-income ratio so much so that I cannot qualify for and pay the down payment and closing for the lending on the second home.Questions: - With the first home being multi-family, 75% of the rental income (or potential rental income initially) will relatively either maintain or boost my debt-to-income ratio from lenders' perspectives, right? 

When it comes to managing your mortgage, most homeowners are familiar with refinancing as a way to lower monthly payments or take advantage of better interest rates.

My concern is doing the cash out refi on my other rental and causing a new and much higher payment on it that I can't just pay off like a loan.

The 1031 exchange is very locked in on dates and properties you select so have a great agent who knows the 1031 exchange. 

You will likely need to save up for your next down payment.

Investors tend to incorporate in either Nevada or Wyoming because the corporate veil is the hardest to pierce in those states.As for market selection, there are great opportunities in the Midwest and Southeast.

Just make sure to focus on market selection, financing options, and building a solid team—especially a reliable property manager.

When we moved, we turned it into a rental, hoping this would be the start of our real estate journey—something we’d like to continue once my husband retires.Some key details:My husband is active duty and will retire in 3 years.We have one final move coming up this summer to Raleigh, NC.Our current debts are crippling us—the high interest makes it tough to stay afloat every month.The plan I proposed to my husband:Sell the rental property.Use the proceeds to pay off all our debts, set aside emergency funds and a down payment for our next home.Free up $1,500/month from debt payments, and that also can stash in a high-yield savings account.Regain full VA loan entitlement, allowing us to purchase a multifamily home and use the house hacking strategy for up coming move.Avoid capital gains tax, since April marks five years of ownership, and the tenant’s lease ends in May.This wasn’t our original plan, and we hate the idea of using our equity to pay off debt.

But I can definitely help you if you need pinpoint assistance as far as neighborhood selection and accurate rental projection / rates.