You address it in comment 13, but don't mention that all proceeds from this new supplemental or new debt is tax free. 

We are looking to be out of debt except for primary mortgage at our current residence by this time next year.

I would love feedback on what might be the best course of action.Let me set the table first:USAA Career starter loan is $25,000 at 2.99% interest for 60 monthsI have about $8k in student loan debt at rates ranging from 3.86-4.66%.

When you get to that point feel free to DM me and we can talk directly.The type of financial structure you describe in the second part of your post is called BRRRR.

I am not a financial whiz or a commercial giant by any means, only that I know if we sell this property, the buyer is going condo route, so why couldn't I go that route.I am guessing my biggest mountain at the moment is how could I even possibly get financing for a 30-40 unit complex since in theory we are talking in the multi millions.  

I had a whole loan package done and on a secure linked google drive, and my building financials on the BP reports all in there.  

Residential will look at you and your ability to make payments on the property, I don't know your income vs the debt on these but it's possible that your debt to income ratio would cause a residential lender not to lend to you.

Do you have any financials on this property?  

@Christopher PhillipsYeah... it seems it all boils down to knowing the "total debt" - no matter which position forecloses.Except if the first one forecloses it releases the property from junior liens.

learn about 1031 tax deferred exchangescomplete you financial package - 3 years tax returns P&L - real estate portfolio, credit scoreexpect to be rejected by lenders and other W-2 employees - qualify lenders, bankers, mortgage brokers - ask what products they have - see if you qualify for themlook at 20 buildings before offering on any - know the SF dollar cost - keep a journalmail lots of letters (be professional NO yellow childish communications) to owners of apartment buildingsUnderstand what a CAP rate is and how to get to it - fill out your  commercial APODVerify -verify - verify all financial data given you by sellers - sellers are liars (so are buyers) trust NO One!