That means they are paying dividends out of investor capital or debt, instead of NOI.

I would also put part of it in a debt fund. 

Is having debt not reported on credit is your priority?

In my experience, cash flow is key, especially for long-term holds, so running a detailed DSCR (Debt Service Coverage Ratio) analysis might be a good step here.On the flip side, if you're eyeing faster returns, a flip might be more lucrative.

My first rental has over 100k equity and the rent is almost double the debt payment (I've got a really great mortgage from 2020 so it cashflows very well).

Conventional loans that use your debt to income / DTI to structure the loan require 12 months seasoning to use the new appraised value for a cash out refinance.

Maybe with automatic payment stuff and you can request changes to your credit card due dates, you can take as much advantage of the float. 

I see 3 days ago a charge for a whopping $390 was charged from BiggerPockets to my card.

To do delayed financing or a cash out, you can go conventional where you use your debt to income / DTI ratio to finance or you can do a DSCR loan if an investment property.

The terms on the debt look good.