I have flipped single family homes, built spec homes, had section 8 rentals, and prepared due diligence packages for friends on a commercial scale. 

Let's say you have capital for down payment for both and good credit scenarioA.

My credit score is good, 760.

I have excellent credit but I work overseas (i have tax returns but no w2s)-- would that be an issue? 

I will write another letter and have the bug guy come in again and maybe after all of that they will let me out of the lease without hurting my credit or rental history.

Do your math and be prepared for what you are willing to pay to get the property.

There's also the idea of buying one for cash and then opening an equity line of credit for the future?  

I just opened up a credit line backed by my first investment property.

I am in the process of getting financing from my credit union for $600k for 20yrs @ 4%.  

We cannot do conventional financing for at least another year and would honestly prefer to have a deal such as this being an owner-will-carry type situation where it is not on my credit (tying up my ability to purchase a house elsewhere).