So it can leave you at least currently with poor exit strategy.   

We still owe $140k on it which leaves us with about $320k equity.In April of 2014 my wife bought a 3 br / 2.5 ba 1,500 sq ft townhouse in Santee (east San Diego) for $359,000.

This leaves you money for reserves.To preserve what's left of your out of pocket funds, request a Seller concession for your closing costs. 

And also they want u to have more skin in the game since it’s not your personal residence.

Fortunately, I've never had to take out student loans or apply for a credit card in the past; unfortunately, this leaves me in the position of having zero credit whatsoever, it's not bad, it's just that I don't have any at all.Is it possible to get any type of FHA loan without credit?

As you infer, leaving all the equity in the first property isn't letting it work for you. 

No skin in the game.

If they have skin in the game, like you do, then you can feel comfortable.  

With your parents down the street, you could just bring your necessary items leaving seasonal clothes storage and other things at their place to limit your items needing storage to free up for the paying roommate.

...i reached out to an investor asking that i be added to their vip cash buyers list, as i have been given the green light by several buyers to bring sellers to table. she sent me a deal - its great, off-market in north cali with around 40 units, fully entitled. so i sent the deal to my cash buyers list and immediately got a buyer who wants it. i asked my investor friend if she pays a finders fee and she said yes...but since i know that my cash buyer is more than happy to pay above to asking price for the deal, id rather secure the contract myself and then assign it to my buyer but one obstacle i might face is that my pof isnt for 10 million its about half of that....with getting this contract myself also i dont have to worry about next time my buyer going directly to my investor and getting future deals that would leave me cut out of the deal.