Using mortgage debt at 6-7% on a refinance to pay off higher rate debt such as a credit card at 15-25% is a savings!

After the inspection, we sent a request with a mortgage contingency date extension (because it was also difficult to schedule this with the agent), a credit for termite treatment and an extension for the closing date which would allow one of the current tenants to move out at the end of this month (when their lease is up) before closing.

If you do not get that tax credit its usually not profitable. 

I suspect a local bank or credit union might be your best bet.

I also can take out a home equity line of credit on my current home....but I need direction. 

For those that qualify for conventional financing its another negotiation tool, for those that do not its a way to get into real estate but many do not understand what it is they are signing up for.Regarding it being good for an owner, again it goes back to the borrower, if I have a borrower with 800 credit and I control cashflow its far different than someone with 540 credit.

This is not a one size fits all answer, but bad debt is non-asset based or depreciating assets - , credit cards, medical, buying dumb stuff.Good debt is debt used to make or grow your portfolio. 

Rate will also be in the high 9s depending on PPP and credit.

Hi @Ryan Kinoshita,I personally recommend Chase business for a few reasons: Really easy to work with, really good sign on incentives for both their accounts and business credit cards, and there are branches all of over the country making it easy to handle your business from anywhere.

Credit and background checks, minimum 620 score, income verification, and limit the number of people living in the home.Tenant Own Homes is popular as well, you own the land and collect lot rent!