@Jonathan Snider oh that's exactly how we got started.....We were going down the path with an quadplex LTR then shifted.

This week I found and interviewed these guys offering calls staring at $5/hr from the Philippines headed up by an American for Texas maned Mack. https://www.facebook.com/derek.sabal.75 

Like down payment assistance.

We have seen the days on market slowly come down, but it is still high compared to previous years.

(if the property value is 115k) Then turn around and use the cash out proceeds for a down payment on another commercial DSCR loan to purchase a small multifamily.

I Live in jersey and the Prices seem to not be going down here and there is little to no inventory So I started to look at Pennsylvania.

If he cant talk about this up front, be cautious and mindful of their ability to represent you down the road Best of luck! 

But, I am considering buying a home 300+ miles from me that I can use as a vacation home for myself a few weeks a year and do short term rentals the rest of the year.Question: Can I get a second home/"vacation home" mortgage (10% down) when I don't have an existing first-home mortgage? 

I think you hit it on the head - depleting your cash is, in my opinion, a calculated risk worth taking due to your savings rate.  

Did my wife and I get $60K worth of raises and then get hit in the head with paint cans by Macaulay Culkin or something?