How would you guys play this hand?

[William Baptist]

Hey guys and gals,

I'm 45 and working my butt off to get going on this REI journey. My present state: $260K annual salary. $6K a month toward savings. I only have $10K saved toward the $42K for emergency fund. Debt: primary residence $1800K/mth ($185K owed) 1 rental SF owe $85K, mortgage $900, rent $1500. Mattress owe $8K @ 0% int 60mth. No other debt.

I am unclear on if I should pay off rental property and there after buy distressed properties cash, pay off rental then used bank funding, or not payoff rental and cash/bank funding.

Maybe there are other options I’m missing all together. I’d like for you guys to look over my shoulder to give me some assistance to play this hand that I’ve been delt. Thanks in advance

[William Baptist]

@Anthony Wick it went towards paying off over $140k in student loans, car and student loan debt.