Used funds to pay other debt off plus out cash in the side.  

So your debt is currently $3000 per month and your property earns you $1000 per month? 

I also know I can look at ways of borrowing against that equity (HELOC for example) but I also just feel like if I take debt on that property the cashflow goes down, and then if the association also takes the loan it goes down more, and at that point I don't know why it would be a better option than selling before August. 

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? 

On a rehab I have anything that needs to be ordered ready to submit before I settle , I place the order the day of settlement .

So I carry effectively 0 debt. 

It's debt you'd still have to pay back, but at least you will not touch one of those two amazing interest rates. 

Fed can’t raise interest rates to hold inflation down due to Fed debt levels.  

You've done a great job with keeping your debt low so I have no concerns about your level of discipline to use/reuse a line of credit.All the best!

Further context, I have zero debt, high 700s credit score, one other investment property here locally. 175k in cash available, looking to do DSCR loans or cash and then refinance.Peoria, Illinois- Great need for lower income housing, market appears to have many options.Lawton, Oklahoma- Looking only at extremely cheap properties, as it seems it’s not terribly hard to find renters.