I would put it to work now while you have it:)    Of course you can always go the other way start paying all your debt down.

Your income determines your max loan (debt service ratio). 

I am looking for someone who can guide me in flipping homes and becoming successful to help me become free of my financial debts.

What kind of debt?

I have seen a a lot of information about experts thinks that the US dollar will collapse in 2016 because of US debts , more than that, there is a big group saying it is going to happened in the 28/5/2016 exactly.do you guys think its true?

If you get a favorable judgment in small claims court, you would probably need to get a debt collection attorney to actually extract the judgment from the daughter (assuming she is not completely judgment proof and has the ability to pay).

I'm focusing on paying off some debt over the next year or so and once that's gone I'm hoping to start buying and flipping, or buying rentals.  

I'd go to the family, find out what other debt they have on the house, then offer to pay off the taxes and give them cash up to your max price in exchange for the house.

@Robert JuanesWhen working the numbers it is customary not to include the debt service (mortgage) or the capital expenditures in your operating expenses.

For buy and hold properties, this means including debt service, taxes, insurance, management, and reserves for vacancy/maintenance/repairs.