This allows you to take your time to make your next move.Alternatively, you might also be selling at close to the bottom of the market cycle.

If the pricewould have been $20k less I would have been good with just a VA loan.So depending if you're looking at a larger more expensive house, I wouldn't refi the 1st one as I'm sure your interest rate is pretty low, plus adding closing cost would add more $ being refinanced.

I haven't seen any lenders willing to do second mortgages, especially to get up to 100% (or anywhere close to it) of the purchase price for an investment property in a long, long time. 

They’re in an area close to Dallas but not Dallas proper.

You are talking about paying money back at 6.625% and if you are LUCKY an opportunity will pop up next year and you'll refinance that loan to access that money to take advantage of it at 7.5% PLUS pay the closing costs on the loan.

They are a scam, and no longer close loans.

Close it in your personal name and transfer to the LLC post close.

I’ve already made some calculated evaluations in terms of the expected operating expenses, the mortgage, closing costs, and a 20% down payment. 

If the Seller agreed, there would be some closing costs, and the wholesale fee to comeup with.

I like to buy close to turn key as possible.