I have about 17k cash and possibly leverage a cc with no interest until 2017.

Then I would take it sub2 with sellers covering cc and 3 more payments.

Hard money lending is obviously expensive but 10% with cc + fees is a bit absurd.

Buy the carpet on the CC which you'll pay for later from the proceeds after you sell it.

Originally posted by @Richard C.  C

I have the ability to raise the total capital of the project (through HELOCs, private loans, CC's etc).

I would like to get more business c/c but I hate giving them my SS# does it both you to do that if not why not?

I was able to take those funds and completely eradicate my CC debt, while leaving me with enough cash to fund a bigger project!!   

If I keep the home, I would do my best to try and pay down on the loan primarily through wholesaling/flipping so that I could attempt to refi and drop the mortgage payment.Option 2 - FoldIve thought about walking away because I believe the money we would free up could help drop some debt we have elsewhere (small amount of CC debt and student loans) or with saving up for our future REI adventures we have been planning.

After the cc debt clears, i'd throw as much money as possible at student loans.