I am happy with the path we took to get our foot in the door, but my short time on the site so far has broadened by horizons tremendously, and has me thinking bigger than I ever thought possible - so thank you to Josh, Brandon, and all the other contributors who have made this site what it is today!

A second job is on the horizon.

First, we would concede that over a 39-year time horizon it is highly likely that the value of the property would easily cover any net profit losses, though that fact would not necessarily effect cash flow needs.

I came across Horizon Corp. and The Colonial Act of 1994.

If your son is earning income through his rental and college is on the horizon, check into that more.

If you have $20K in cash and use it to buy a property that is worth $110K and has $100K of debt on it, you just turned $20K of liquid capital into <$10K net worth of fixed assets.This can make sense if you have a long investment horizon and do not need to refinance soon.Though you didn't ask/comment about it in your post, I would also caution against using rents provided by the seller as the basis for a purchase.  

Keeping in mind that you'd be moving unsecured debt (no collateral) to secured debt, I would recommend doing what you suggest if you confident in your employment situation during the time horizon that it would take you to pay down $27k, and if you are confident that you will not run up more credit card debt now that your balances are freed up.Beneath enjoying the entrepreneurship of it all and investing in something concrete, you fundamental goal is to do better than you are doing today.

If the provider has capacity have them provide you with a letter of commitment with a sufficient time horizon to get your project completed.

Look harder at your area, expand your horizons a little and keep searching. 

Any good deals on the horizon?