The podcasts are a great source of information but lean on these forums whenever you have questions.

This can get pretty complex, pretty quickly, so just keep that piece in check for audit documentation and make sure you have good records on all of it.

So outsourcing some degree of property mgmt would be a must... but the deal won't work paying a local property manager a large % of my revenue...Instead, I would set up my "boots on the ground" (cleaners, handyman), and would need an offshore virtual assistant to manage guests and coordination of my local team. 

If you buy something as an investment property you might be able to get 10-15% down, but the rate isn't going to be as good, I'd recommend 20 or even 25% down if you can, but even then the interest rate is still going to be higher than it would be on an owner occupied loan at 5% down. 

Depending on the volume the builder does, they may have someone on staff.   

Any opinions on this plan would be greatly appreciated!

Definitely sell it if you can.

Hi Jasmine,A DSCR cash out refinance sounds like the best product for this.You can vest in an LLC and most DSCR lenders do not report on your personal credit report!

Could you advise on whether we should pursue house hacking and rent out our current home?

After closing, you can transfer the deed to the LLC, but the key is timing.