Hi Shorub,
Assuming that you're thinking about some of the Round 1 application deadlines later on this year, you might have to work on your applications while you are studying for the GMAT. That's not much of an issue (many Test Takers do that), but it does mean that you'll need to be even more efficient with your time, so that you can accomplish all of your Goals.
Many Test Takers who use a 'book heavy' study approach end up getting 'stuck' at a particular score level - and since you're thinking in terms of working through a bunch of GMAT-related books, it's possible that this will happen to you as well. Even the best books are limited in what they can teach you; they also can't force you to approach questions in a certain way and their explanations are often one-sided. Given everything that you have described, you would likely find it beneficial to invest in a GMAT Course of some type (either Guided Self-Study or instructor-led), so you should plan to look into the available options. Most GMAT Companies offer some type of free materials (practice problems, Trial Accounts, videos, etc.) that you can use to 'test out' a product before you buy it. We have a variety of those resources at out site (
www.empowergmat.com). I suggest that you take advantage of all of them then choose the one that best matches your personality, timeline and budget.
If you have any additional question, then just let me know.
GMAT assassins aren't born, they're made,
Rich