A home just hit the market that we would like to acquire personally, but also believe we could get it at a price that would give us alot of initial equity.

If you just acquired the property, you might want to season the loan for a few more months (check with your lender).

My current goals are to build passive income by entering REI by multi-family house hacking and acquiring a handful of buy and hold properties over the coming years.

For some more context: I've been immersed on BP forums, podcasts, and books and am eager to acquire another property in central TX or near my hometown in FL.

A new neighbor took over a year to get a tenant out of a home he acquired in an estate sale. 

Most folks don't have access to cash to replace mortgage. 

If you have access to USAA, they have good rates and you can have up to 10 rental home policies with them.

That said, we are interested in potentially obtaining our own real estate license, for the usual reasons; MLS access, cut out the middle man etc.

The deadline is very strict, and the custodian must receive the money by the deadline.If it's anything other than A or B - there could be some important complications.Once you acquire the property, ideally you should limit your personal use to no more than the greater of: 14 days, or10% of the total days you rent it to others at a fair rental price.If you exceed this number, your tax deductions will be limited.And when I say "personal use" it does not mean just you.

Save until I can comfortably acquire another property in CTX or OOS.