@Brian C.

Bare minimum, I pay off the CC and improvement loan before I do anything else. 

But instead, I expect I would have a 2-3% vendor fee to pay by CC, right?

I am still using CC money at 0% for up to a year (I do pay the 4% initial fee). 

I've included it below for your reviewParameters: Federal Tax Rate 33% Vacancy Loss Rate 10% Repair Witholding 15% Down Payment $ 13,615.00 Asking Price $ 389,000.00 Amount Financed $ 375,385.00 Monthly Bank Note $ 1,763.00 Annual Property Tax $ 3,696.00 Home Owners Insurance $ 1,164.00 Annual Property Management Fee $ 3,540.00 Estimated Interest Expense $ 14,400.00 Monthly Water/Sewer/Garbage $ 100.00 Asking Rent $ 1,000.00 Output: Occupancy Rental Income $4,000.00 Gross Rent - Annual $48,000.00 Expenses Total Vacancy Loss - Monthly $ 400.00 Repair Holdings - Monthly $600.00 Management Fee - Monthly $295.00 Property Insurance - Monthly $ 97.00 Utilities - Monthly $360.00 Total Monthly Operating Expense (Sum of Expenses) $1,352.00 Total Annual Operating Expense $16,224.00 Net Operating Income - Monthly (Gross Rent - Sum of Expenses - Vacancy $2,248.00 Net Operating Income - Yearly $26,976.00 FINANCING & OTHER EXPENSES Bank Note - Monthly $ 1,763.00 Cap Expenditures   Total Financing Expenses - Monthly $ 1,763.00 Total Financing Expenses - Annual $ 21,156.00 Free Cash Flow Before Tax - Monthly $485.00 Free Cash Flow Before Tax - Annual $5,820.00 TAXES Depreciation $14,145.45 Property Tax $308.00 Mortgage Interest Deductions $ 14,400.00 Taxble Income -$1,877.45 Tax Liability (Savings) -$619.56 Free Cash Flow After Tax - Annual $6,439.56 ROI C/C Return 42.75% Cap Rate 6.93% Desired Cap Rate 10.00% Gross Rent Multplier 7.82 Valuation Valuation

Pay off your cc and you're not collecting a check afterwards, you're just without cc debt.

I come from the construction field, with 12 years experience as a lead carpenter on a framing/siding and cornice crew, and a short stint of project management. 232 hrs of hands on, general construction, course completed at Fayetville Tech CC.

+1 on consolidating your high interest debt into the lowest interest loan you can get (cc promotional balance transfer with 0%, or another loan with less than your cc’s).

After we pay down a couple cc's and car we'll have about 25% DTI.

Even if they kept 100% of the income, it probably is not be enough to justify their expenses (machine costs, service calls, data costs for CC transactions, etc.).