So for me I don't want to ink a lease ASAP with first qualified.In addition, first qualified may not mean soonest to move in. 

Since this property is currently in our personal names (not our LLC) we've been paying for a $1 million dollar umbrella policy for about 5 years now to help in any situation that may occur with the house and ourselves personally, so perhaps I shouldn't be so worried about the equity build up in that property... it's probably unfounded.  

There are plenty of people that do a couple flips, eat the taxes, so that they can build up their saving for a larger down payment later.

The current owner has always self managed, but I live in King county, so that is not an option! 

I also applied for a credit card to build up my credit score in the meantime. 

I recommend sitting back (crunching numbers along the way of course) and letting others ride the wave of low returns as you build up reserves.

Goal is to flip houses to build up larger cash deposits each time.

Do you have a cash reserve, or have you factored in saving part of monthly rents to build up a reserve?  

I have been selling San Diego condos I bought in 2009 and buying units in KS MO.

I would either find someone who has money to partner with or try to build up some savings.