Hey @Brian C.

Gross monthly income (optional): $5,600Monthly debt obligations appearing on credit report, plus (if applicable) personal rent and alimony/child support/etc: $575 (CC) $1979.15 (Mortgage) FICO: Bad, but zero missed payments, just high balances on credit cardsCredit issues: No issues other than high balancesAdditional details: Just looking for advice on refinancing.

If I try to bake CC cookies with a bag of bolt's, yeah it's not gonna come out right, GIGO, the correct recipe must be followed. 

You might also think the 2nd Amendment is b/w and c/c, but it turns out there's about 50% of the country who ALSO thinks that it's b/w and c/c, while holding an opinion that is 180 degrees the opposite of yours!

CapEx is building improvements/repairs you can't expense (is take the whole cost in the same year against your income), but have to depreciate (ie a new roof you would take, I think, 1/7 the cost/year for 7 years).I don't know if I'd include these in C-C since they're not really operating (ie regular recurring expenses) and you should be taking something out for reserves to pay for these on an ongoing basis.

Our plan is to take a hard money loan for the tri-plex, pay off all our CC debt (about 30k, yes we were stupid in the past but we have learned better) and have about 30k left for a down payment for a mortgage to replace the hard money loan.

The line wouldn't be substantial but would be a good way to pay down your CC debt.What is this house that you are moving into that you don't have to pay for?

I also like new appliances as they come with warranties through the manufacturer, and I have extended warranties through my CC. 

Is it 2% C-C for a long time or will your rehab/conv make it a lot better cash generator.Since I don't think you get the tax breaks we do here in Trump-landia, 2% without any tax shelter isn't real great considering the risk involved compared to safer investments.

I'm looking into purchasing a distressed property with cash and using the CC to fund the rehab.