Look into a DSCR loan that uses the property's cashflow instead of your personal income to qualify.This is a tax free move as you are using debt plus you still benefit from all the benefits of still owning the first house.Your future self will thank you for stacking houses this way as your cashflow and equity will build up over time creating long-term wealth.To Your Success!

That being said, if doing so, what is the best way to go about it?

Connecting with locals who have experience in this area is a fantastic way to gain insights and avoid common pitfalls.Since you’re looking to buy in the next 12 months, I recommend starting by networking with other investors and real estate professionals in the area.

Best to buy 2-4 unit, live in one, rent the rest.Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

One of my biggest concerns is that people are constantly going to beat me to all the best deals. 

Orlundo, some the nations best commercial and investment lenders may not be located in your backyard.

Because that's the way wholesalers get around the law.

Headed into a new market and loving learning the way things go.

Then payoff their mortgage/liens and I take the rest.If I structure it this way I've been told I don't necessarily need to go through a title company and formally "Close" on the property which would save me a few thousand bucks. 

It didn't cost you anything and we all have the best of intentions.