If your plan is to leverage equity somewhere, but you don't have deal in which to use your cash, I'd put it on my primary and when you are ready to start shopping, open up a HELOC to tap in to it.

I wouldn't hold on to anything that was losing money unless there was huge predicted upside sometime in the future (massive appreciation, massive rent increases in the area, the possibility of a developer buying it for a big number because it's next to a commercial area and they want to put up a shopping center... and they NEED your property etc). 

Not many local people shopping for homes today or tomorrow! 

I hope you are considering this during your shopping phase

So big box retail is starting to have a smaller space at the front of the building like Target or around the side and consumers can order and pick up items and also might do more shopping at the physical store.

A great chance to network and talk shop.

As I've been trying to come up with creative ways to offer convenience costs, I thought to myself, "what if I told my prospective tenant that rental insurance was required with the aforementioned criteria, and they had two options, they could either shop around for it themselves, or they could purchase it as an additional monthly cost of, let's say, $40." 

There is a massive shift in the way consumers shop and their expectations of retail providers happening right now.

Just wait till one is closed before starting the next process (doesn't mean you can't start shopping for both, just don't try to process the mortgages and closings at the same time).For the property at your home town area where you are wanting to invest I would suggest looking at HUD or VA foreclosures as both provide mortgage opportunities for investors that don't plan on living in the property. 

Happy to meet at a coffee shop if anyone is local.Any help is appreciated.