By the time I reach 20% equity (likely 3+ years away), my monthly mortgage payment will come down when I refinance, but $600 is a big hit to the numbers. 

I am currently in the planning phase of my real estate investment journey and had a few questions I’d like to ask someone more experienced.Would it be smarter to focus on paying down my own mortgage and then use a HELOC as a down payment for my first investment property, or should I simply use my savings for the down payment instead?

Quote from @Matt Meier: Good morning,I’ve come across a renovation property available at a significant discount and would like to secure it without going the traditional 6-month financing route.

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? 

I will secure the loan for everything.

However, my debt to income ratio with that home loan, and student loan doesn't look that great currently and I don’t have much for a down payment.

I am looking at different loan options but to break even (not having to put any money of my own in the house after the initial down payment) the current down payment required is that much. 

am working with them now and had the first policy (with Spinnaker) cancelled for nonpayment/late payment so we rewrote another policy (with Millenial) and having the same payment problem again but at least they are communicating that cancellation is coming. they want me to pay by credit card over the phone so the payment wont be late and cancelled again. but when i go to mycoverageinfo.com to check on status it shows its been paid.

Securing Lending shouldn't become a hurdle is the Deal numbers works. 

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.