Down payment should be about the same (20% on a buy-and-hold) but you'll see an additional $3-$6k on average in CC and the ability to keep it off of your DTI/Personal credit along with hopefully no more hard inquiries on your credit (many lenders will accept/perform a soft pull).

And, I think most women would choose a midwife that has gone through pregnancy.Like the OBGYN situation, there is a lot a CPA may not know about the rental business from debiting and crediting some journals and filling out line 242 on some Turbo Tax input form.And, understanding the operating details of the rental business are just as different from preparing a tax return as being pregnant is from delivering a baby. 

You can also send payments to credit card whenever you have spare money.

There's a decent chance that if you have good credit and improve your DTI over the next year, you can put a Heloc on the property while it's still your primary to unlock some of that equity if needed.

Is the credit over 780 for both #2 applicants, or is that an average?

Instead, you could explore pulling equity out through a home equity line of credit (HELOC) or a cash-out refinance.

In the meantime, focus on building your credit, saving for a down payment, and soaking up as much knowledge as you can.

Read some other comments - I guess it is technically a cash out refi, but you're paying off a line of credit as opposed to putting the cash in your pocket which is what I typically think of when there is a 'cash out refi'.

Quote from @NA Hirsch: What service do you recommend for doing a soft pull on a potential borrower's credit?

Based on your numbers, and assuming you have a credit score high enough and have never filed for BK, you shouldn't have an issue getting approved for an HML to buy/rehab the property that I would estimate at about $370k-$375k (which includes 100% of the rehab costs).