Pay off bad credit card debt before applying for a CASH REFI on a Rental?

[Syreeta McDonald]

Hello Friends,

I own a rental property free and clear worth about 270,000. I would like to do a cash refi to purchase more real estate. FICO score is in the high 600's. I have a credit card company offering me 50% off on debt that is still on my report (50% off of 26,000). 

Should I save up the 13,000 and settle the debt first before applying for the CASH Refi to get a better rate (would take me 3-4 months), or should I just apply for the REFI now and then pay off the debt. I am anxious to buy more properties because I need time to set these up so that I can start making money. Would paying this debt off first make much difference? Thanks!