There is an exception to get a 2nd simultaneous FHA loan however you'll have to have one of these 4 situations to qualify along with 25% equity on your current property which it seems like you do (close enough):1) larger family size (evidenced with medical pictures/documents for legal adoption/birth certificates)2) You were a cosignor but not currently occupying a property of another FHA borrower and now you want to buy or qualify for your own FHA home loan3) legally separate from an exspouse with which whom you shared a FHA loan together on a home and now you want to qualify for your own FHA home loan4) you're relocating for a job (need employer offer letter signed/dated by employer or HR)Your other issue with qualification is DTI and that is often true that its capped at 45% DTI or debt to income however you can also go up to 50 or 50.5% too so there might be some room to work towards there to get that additional borrowing ability.Paying down your existing loan is probably the worst way to obtain more qualifying ability especially when your current note from FHA on your current property is at 2.70% as you mentioned. 

Hello BiggerPockets family  - In my view, both employment and population growth are important but incomplete factors when considering acquiring an asset if the replacement cost is lower than the appraised value of the small apartment.For this reason, I would prefer to invest in Chicago compared to a city like Austin, TX USA. 

OTOH, if you don't have full time employment, and you're managing 50 units or you're brokering real estate, or any number of other activities, you can certainly get this designation.

The federal reserve employs some 400 PhD economists who collectively cannot tell you with specificity that an increase or decrease by a certain amount of basis points, will result in an exact target inflation rate of some amount or %. 

A dependable tenant is someone who:Has stable employment in a market segment that is very likely to be stable or improve over timePays all the rent on scheduleTakes care of the propertyDoes not cause problems with neighborsDoes not engage in illegal activities while on the propertyStays for many yearsPeople think that tenants are a single entity with common behaviors.

Next rung is wholesalers (so one extra hand in the cookie jar) and then MLS/realtors (2 extra hands - plus their "employers'" cut - in the cookie jar.If you want to find wholesalers, you either need to network in local events or find a facebook page dedicated to RE or sale of property...most wholesalers will place their properties there because it can be seen by the most eyes.

The main two options you have are DSCR (the best choice) or Bank Statement Loan (2nd best if you are self employed and have some type of income). 

@Kerry KrienitzLenders typically want to see w2 income - assuming your self employed there are options.If you have no income then you will not be able to refinance to a conventional loan and a DSCR May be your only option and those are drying Ip very quickly

No need for tax returns, Verification of Employment, or income.

You’ve got a great career, likely with some flexibility in scheduling if you can make that happen….my wife supported me as an RN starting out in this self employed world my first year of leaving traditional employment behind me.