Or are you unclear as to whether you structure as a debt offering or equity?  

Over the past few years, my wife and I have worked hard to improve our financial health—we’ve raised our credit scores above 800, paid off all debt except for our mortgage and student loans, and saved a fair amount.

I was able to side step financial fees but the person funding the project was assessed a 26k debt because I and all subs were viewed as employees.

This is a solid, predictable income stream.Low debt: With only 7 years left on the loan, you're close to owning it free and clear, which will significantly boost cash flow.Diversification: Keeping the fourplex provides diversification alongside your other investments and W2 income.Local market knowledge: You likely have a good understanding of the local market after 10 years of ownership.STR potential: Michigan has some attractive STR markets, especially in tourist areas.

i just have to be really, really patient.i will say though that i am actually heartened when a new investor does some math and figures out, correctly, that a miscellaneous deal with conventional debt will NOT cash flow. 

The more leverage (debt) that is applied to a property or deal, the more cost savings you will get up front relative to the equity you put in.Let's say you buy a $10 MM dollar deal that has $3 MM of year one depreciation.If you used $7m of bank debt and only $3m of equity, your year 1 deduction will equal the amount of money you put into the deal!

But not to worry, those aggressive creditors will be thwarted by the elaborate entity structure  so they have no obligation to pay back the $10K in credit card debt :) 

Some lenders may still offer 10% down, but they might require strong compensating factors such as excellent credit, higher reserves, or a low debt-to-income (DTI) ratio.The requirement for 12 months of reserves is common with jumbo loans right now, especially in Southern California, where property values are high.2.

Paid everything off on it so no debt. 

Sell 1, re-fi 1, pay down the debts.