And what timeline can lender #2 close in? 

You don't want to lose your rate on the house you are living in now unless you want to sell it so since that is an owner-occupied, you need to stay there and save up the 20 percent for the second property based on what you said.

Don't forget, you’re going to be out 10%+ in closing costs so you’ll walk with zero cash and pin your hopes on them paying you 20-30 years from now if that’s all they put down. 

From updated tenant rights laws to shifting zoning regulations, staying compliant can feel like a moving target.

STR stays STR.

In the same token I go on the low end for rents to stay conservative.

My quote expires in 2 days but we have run into a hiccup closing. 

LLC Transfer & the Due on Sale Clause•HELOC: If you take out a Home Equity Line of Credit (HELOC) on your rental, most lenders require the property to stay in your name.

*Location Matters — Neighborhoods that have high demand, quality schools and close proximity to shops and services tend to draw buyers willing to pay a premium for a well-renovated house.

Also, stay away from Insula Capital AKA Atlantic Capital Holdings out of New York (Long Island) I didn't lose $200,000 but lost $10,000 plus on a deal they gave us a funding letter for $300,000 cash for a flip we were purchasing.