You will still be spending less than renting, and simultaneously gaining from appreciation and principal paydown. 

I have done the cash out refi/HELOC simultaneously as part of my first deal and it was exhausting!

I have identified 2 different opportunities of pretty significant size(to me at least). 1st property is $7.75M, zoned R3 and could possibly be developed into 22 Units1 in California 1 in Idaho.The second would be about $25M and could be parceled out and flipped.The question is how do I simultaneously Tie up the property Put together a prospectus for investors(is there a service that can help with this?)

This should be your first step, simultaneously with nailing down your criteria and honing in on some good areas.

However, I think at some point you would want to diversify into longer-term investments simultaneously.

Also, specifically for first time home buyers, there are a lot of states that offer programs that can help push a home purchase over the finish line with grants that allow for the buyer to save money and walk in with more equity simultaneously.

It doesn't make sense to pay less in mortgage interest while simultaneously losing the opportunity at good returns.I would consider selling and investing in something that moves you closer to your goals.

I recommend you focus on getting rid of this renter but simultaneously start looking for a good PM.Remember: cheaper doesn't mean you'll make more money.Start by going to www.narpm.org to search their directory of managers.

But big picture right now our current major project and taking this one on simultaneously could not quite pass our 'stress test' in terms of finances. 

Analyzing multiple deals a day to really hone our skills while simultaneously focusing on building our A team of agents, wholesalers, lenders, property managers and general contractors.