Thanks  Pros:-Lower monthly payment = higher cash flows-Save more equity than paying down principal, can be utilized in other projects and to scale-Generally better for tax purposes (no tax benefit to paying down principal)Cons:-Higher rate-Higher risk (deleveraging over time give you more LTV cushion generally)-Less cash out / harder to refi in the future (UPB will be higher)

Which one is better?

The earlier you start in your RE journey, the better off you will be in the future.

The long twisty roads that go through to another road is better than a dead end one. 

After putting in my assets and debts, I felt better about myself realizing my net worth was more than I thought haha!

I won't go too far into it here but I have some ideas and hope the CPA will have better ones. 

You need to check out your team better.

We could also vacate at some point when we have better light industrial space, therefore moving on to the next hack…At this point, it seems to niche for us and not the best first deal.

Is it better to use the same lender for the investment property, which would be a much smaller loan, or use a new one?

You are probably better will serve to invest in the Chicagoland market particularly on the southside where your cash flow margins and cap Rates are higher much higher.