This would leave us coming out of pocket 150k + 140k which isn't viable.

If you let them know you are going to handle it yourself, they could relocate those rentals to other cabins they have and leave you  with nothing.

I am purchasing a multi. There is one trouble tenant I want to get rid of (covered all the smoke detectors and smokes inside) The problem is, they’re locked into a lease with almost an entire year left. We want to mov...

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.