You should do both simultaneously.  

So, I am thinking it would be smart to use hard money later in the game as I gain some experience and confidence to where I could do multiple deals simultaneously (with obviously less profit potential on each deal) but not have to tie up cash. 

The Fed is very slowly tuning that shower off and simultaneously ticking interest rates up.

You should look at doing them simultaneously so that you ensure refinancing the first property won't harm your ability to qualify on the purchase of your new home.Even with a current rate of 3.5%, there's a decent chance that your overall effective rate including the mortgage insurance is in the mid-4's.

Do you happen to know of any title companies or closing attorneys that will do simultaneous closing in the Bay Area?

Or during the closing process do the investors simultaneously file for a new LLC and then close on the property under this new LLC?

As for the Investor/ Realtor question I would like to do both simultaneously.

All the new guidelines have more than doubled appraisers' cost of doing business while simultaneously reducing fees.

I am pursuing in getting licensed as a NY RE agent, and taking RD courses simultaneously.

Mtg being foreclosed on, issued 12/27/06, simultaneous with purchase.