To be fair however, I'm looking for permanent debt on a mobile home park I own in which the trailers are also included in what I own.

So if someone tells you, it does not matter about liens behind you - it does.There’s one more ; the borrower has increased debt service and when it either turns negative or leaves nothing “in their pocket” they may lose interest in the property, decide to stop paying all mortgages, and put whatever income they can into their pocket until they lose the property to foreclosure or one of the lenders obtains a court order prohibiting such.   

With your income and plan to pay off student debt, you’re in a strong position.

Their intention was to take possession of the property by end of this week.

Essentially there are investors out there that can build a large enough portfolio with little debt that can cash flow enough for a great life.If you want to scale to many properties then you will want to consider leveraging your existing properties.

Or is qualification your main preference 1-4 unit fha conventional loans will qualify off DEBT to INCOME or DTI while commercial portfolio loans will qualify off DSCR or debt coverage service ratio (this assume you’re not going to live there if you’re going to a credit union).So you asked a loaded questioned but I gave you some questions/answers to think about if you could provide more information perhaps more commentary can be added further.

If you did not and it’s unsecured debt you could be out of luck on some or all of the money as depending on his situation unsecured creditors in a bk may receive pennies on the dollar depending on what he can afford and if converted to a ch 7 you would get wiped out.Even in 2nd position he could argue the property is underwater and wipe out your lien.

Technically, you're using equity which is better to pay off in debt so restructuring could be good, but you need to really look at the returns.

Keep an eye on your debt-to-income ratio and overall leverage to avoid overextending.

You would now be free & clear of any debt service and the expense impact of such.