@Kelly McCormackI own a short term rental up here in the Boone/Banner Elk area (Sugar Mountain specifically).

I'm definitely in a try to pay down any floating rate debts ( variable mortgage, heloc, etc) as much as possible and wait and see mode.

Unless she isn't reporting income that is impressive to be floating life with 20% of your income while rest going debt, or the numbers are wrong.I would dive more into it and see what you can do, but if her debt really is 80% of her income I don't think adding more debt is a good idea, but each to their own.

If you can float the cash for a week, it sure beats having to track it down or picking it up.

I highly recommend setting your keyword alerts to your relevant areas - Michigan, Grand Rapids, Kalamazoo, whatever floats your boat.  

So I closed on my first duplex in oak park Michigan a suburb of Detroit . so I just became a landlord and a home owner , I have alot of questions floating around so I tthought  is start here. 

In my opinion, if a contractor  can not float doing some work for 30 days  it speaks a lot of their financial position  and would trigger  alarm bells in my mind.

Mind you this stuff is not as thick as the others- but it adheres to each  joining plank while still floating- and that is what I want.

AAPL (American Association of Private Lenders) meets every November in Las Vegas and there is a lot of Investor money floating around there.

So there are no absolutes in life or lending really.Id compared the pricing and rates between the commercial note versus what your current capital stack looks like (1st conventional loan I assume with HELOC 2nd (prime + margin interest only floating?))