You can use the 1sts foreclosure asLeverage to get the 2nd to settle for less than is due and create eauity in the deal, plus whatever You Can Gain By Fixing The Property Up If There Is Money To Be Made There.

Unless you're closing so many deals that you'd run into scheduling conflicts, a good working knowledge of how your lender determines the timing of your first mortgage payment can help you optimize the benefit from the rental proration (assuming the property is currently cash flowing).

I've recently become interested in the Listing side and am looking for recommendations on good practical books/videos/etc to gain of bit insight.  

Will one option offer more benefits than another? 

It's permitted and promoting your projects directly will enable you to articulate better the benefits of ground up development allowing you to build better relationships with investors who understand your MO and who ultimately can become your most reliable capital sources.

If he does that he will defer all tax.When you go to sell that property you will be selling your primary residence and your gain will be tax free. 

John has some good suggestions, rent it out or airbnb it - but keep that capital gains exclusion in mind 

My goal now is to get as much advise as I can and hopefully gain some contacts to start some mutually beneficial relationships in the industry and to help me decide what is the best strategy for my particular situation before I dive into learning as much as possible about those areas.

I currently have a SFR that I house hack and can easily throw in another few hundred a month extra towards the principal.How fast would this accelerate the amortization and are there any benefits to it?

I am posting the numbers in order to (1) share the information for the benefit of others and (2) get people's comments on the deal.The property we're selling closes tomorrow and we will receive about $420k, which is enough for a roughly 25% down payment on this new property.