Then the bank sees the house as having an income to me and actually helping my DTI.I've also read a little on here that while using the FHA loan the lender may add the future income from the multifamily into my DTI but only if I have a record of rental income in the past?

@Dmitriy Fomichenko or others, I have seen a couple of opinions in different discussions that seem to contradict each other in regards to partnerships and future deals in that partnership also.An example is that I have been talking to a couple of potential investing partners that might want to roll over IRA or 401 funds into a SDIRA or SOLO401K to invest within buy-n-hold rentals. 

I have connected with an agent at real estate company Long & Foster, who I will be meeting with this Friday about taking their class and future employment.

If you 1031 into a 2-4 unit property and lock in a 30 year fixed rate loan at today's rates, you can be less concerned with higher interest rates in the future because when the term of the loan is through, you will own the property free and clear.However, going with a commercial loan with a 15 year term will open you up to interest rate risk.

You are not in the future and hustling your $20k together can be done without leaving town.

We had great success working together and will continue to in the future.  

For the near future, I have been set on the idea of house hacking.

With a small bit of consideration (I'd use a one-hundred dollar bill) you can write a simple agreement stating that THIS PERSON (the Owner of this property) will give you this exact amount of time (fill in a date in the future) to buy their house.

Also, if I transfer my Colorado rental's VA loan to, for instance, a non-VA 7/1 ARM, would that open my entitlements back up and give me the ability to use my VA Loan in the future?

This would help clear a few hurdles for me, now and in the future.