To buy or not to buy

[Tanya Knickerbocker]

I am considering purchasing a property. It is zoned R3 and currently has only one house on it. That house could easily be divided into a three bedroom one bathroom apartment unit and a second unit that is one bedroom one bathroom. The cost for doing the separating and for the repairs would be about $13,000. 

The current owner is willing to do owner financing. I was thinking of offering $130,000 with $10k down if he would do 6% amortized over 30 years. 

So far it sounds great! My problem is I I have other debt that I have been working on taking care of. Right now, I have about $6800 in credit card debt, another $6000 on a Home Depot card, and a $21,000 personal. Everything except the personal loan is 0% interest for at least another year. The personal loan is 9% fixed. 

I have the cash that it will cost to do this deal but Is it smarter to pay off other debt first? 

On the one hand, if I were to buy this house, I would have it forever. I can afford payments on the debt that I have and get it all paid off while it's still 0% interest even if I buy this house. The personal loan will be paid off in less than 4 years too.

On the other hand, if I pay off the $6800 on the credit card, I could move the personal loan to a 0% interest credit card and pay that off quickly too. That would save me money in the short-term but it wouldn't give me anything in the long term. 

So, short term or long term???? I'm on the fence on this one. Houses owned are three with two units for $130,000 just don't happen that often! Even here where housing is relatively cheap. On the other hand there will always be another one. But will there? I can't decide. What does the bigger pockets community think?