Prioritize your financial stability.

In efforts to get more experience with IOS, we are seeking a financial partner that potentially has experience with this asset class. 

The honest answer is to be on the safe side, the property you're referring to: GC524550 2811 SW ARCHER RD, #V-177, GAINESVILLE, FL 32608 in the Brandywine neighborhood is one of the condos that are not in a good financial situation.

Most of us get paid a percentage of the rent so a reduction is not benefitting them financially.

Avoid deals in poor locations with high vacancy rates, overpriced properties, significant deferred maintenance, and unclear financials.

Citizens first position HELOC CMG a financial 70% LTVEast West Bank, up to 60% LTV with "no docs” Figure 80% on a rental, not in LLC First Florida Credit Union https://firstflorida.cumortgag...

Key Questions:Would it be more financially prudent to sell the rental property and pay off a chunk of my high-interest primary mortgage (7.375%), and use the remainder for a fix and flip?

Prioritize your financial stability.

Motivated sellers and distressed properties are more likely to surface.Creative Financing: Higher interest rates are opening doors to strategies like seller financing or subject-to deals, where you can secure more favorable terms directly from sellers.Shift in Buyer Preferences: With work-from-home trends still influencing housing demand, suburban and secondary markets are seeing strong growth.

So basically in my mind this would not be a great financial move as we be accruing about 200k more in debt if we were to sell one house and take the cash from there and use it as a down payment.