If you use short term debt or buy at a low cap rate it can limit your options.     

It doesn't matter if the court case was filed when the debtor still owed the real property.

I have plenty of Credit card debt but I wasn't sure what's better immediately focus on the debt or don't worry about it for now and look on buying a house with the idea of flipping the house and using the profits to eat the credit card debt?

I don't know if I should go in with my fiance has the better credit score, she has 0 debt. or should I pay my debt down and then use mine.

Which is that she could live for 30 years and her future SS income isn't going to cut it without a lifestyle change, no matter what happens today with the $12K or the CC debt or house equity.

Kristine Marie Poe Interesting point, not regarding the basis, but as to does acquiring sub2 create any "responsibility" for the underlying debt, or just the "acknowledgment of it's existence"of the  debt on the part of the buyer....thus leading to any issues of tax liabilities resulting from the forgiveness of a portion thereof. 

I often find myself wondering do I pay down my credit card debt or spend more money on building my real estate business?

You need to determine if a mortgaged property with the equilivant cash value invested else where is truly debt or is a diversified investment portfolio a wiser use of your resources.

The reasoning behind a late fee is not as a punitive measure to the debtor but the additional expense in collection, accounting and administration required by the creditor.

Then you can at least demonstrates to prospective landlords that you are working on paying off the debt.  Or