Thanks for your input guys, it’s a big project for it being my first but I’m willing to take it on, the income potential is there and I can’t pass it up... the funds I can get, just want an idea of what I will be spending..

It's typically in a written agreement that should state after move in and all funds collected.

I have also flipped over 100 properties as a contractor  I should of obtained financing from the beginning instead of using all our own funds. 

Any advice people have on funding my next deal and/or property analysis strategies, is greatly appreciated.

If you want to rent it out right away you would get 75% LTV and a higher rate.When you go to buy the second property, you may be able to buy a fixer upper with all cash and then refinance that one after you fix it up.This is pretty much what I did (minus inheriting the property) and I have 11 rental units now.One thing to be aware of is your debt to income ratio in order to qualify for mortgages. 

if your scared of debt you should just by index funds .

You can't really cap occupants of a home, you can charge additional funds, for usage, wear/tear, insurance, etc.

Funds from your exchange account are combined with hard money to complete the purchase and improvement of the new property. 

I’ve been playing with buying my first Home and useing the equity to help fund my first cash flow property.

This would normally be taxable but since she qualifies for the sec 121 exemption it comes to her tax free and she reinvests the other $2.5 mil into passive long term 1031 compliant investments and that is her retirement fund.