Tenants will prioritize their debts based on reprocutions. 

Using HELOCs or IBC to pay off debt (simple vs amortized debt) method is effective, yet investing in assets such as rental properties or syndications might be a more strategic use of available funds than debt repayment.

Ultimately responsibly using leverage (both equity and debt), implementing systems and buying good assets with realizable equity  is how you scale while operating a sustainable real estate business.

He has owned it for over 30 years and has no debt, so seller financing is possible and he doesn't need a large amount of cash soon. 4 of the 6 units have been recently updated. 

The income doesn't really cover expenses plus debt service. 

This makes targeting distressed sellers, such as those in pre-foreclosure, or those with ballooning debt that was taken out in 2020-2021 when the interest rate was 7.37x lower (8/09/2020 the 10-year treasury was .56%, 1/15/2024 the 10-year treasury is 4.69%) making it very difficult for those that underwrote the property in 2020 to have predicted refinancing at these rates and likely a sale is their only option.

if his income is strong enough and not as much debt, he should be OKHope that helps..

In NYC trying to compare like properties and eliminating co - op debt, co-ops will sell for 60% to 200% of a comparable condo.  

If your considering organizing a capital raise perhaps you should focus on large companies that advertise on the websites to be doing a capital raise with a debt offering.

The country has massive debts and deficits.