I do not want half fast pluming jobs that lead to leaks and issues down the road so I am willing to pay a bit extra on this trade.

Everything else I learned has been small stuff to change in each new flip.

If you just bought a primary home this year, you should be pretty good to afford to buy another rental property (unless something has drastically changed since then).  

Our business is currently changing directions and we aren't flipping/wholesaling as much as before.  

In order to subdivide this lot, I would have to convince the city to change their zoning map and allow for a smaller single family lot size than what they currently allow (very low odds this would be approved).  

Most of the suburbs median price is fast approaching 1 million mark.

That is because once things go bad, you want them out as fast as possible.

Also, if the lender found out you turned the current place into a rental, they may punish you with fines.If you refi and change it to a conventional loan you should be able to get a new FHA loan for your new owner-occupied place.

Not cheap but gives you an idea of what you can do just by changing your pattern.

If you have a $100k property without debt and then pull out $75k by taking on a loan, then when you go to sell that property (assuming no change in value) then you would need to spend the $25k of equity and buy something for at least $100k - for most investors this is achieved by taking on equal or greater debt.