I finished all the degree requirements only to discover I was extremely burned out and had to complete another year of electives to satisfy a minimum number of credits at that university.

That way, you might preserve some of your monthly profit while still knocking out that line of credit.

So the seller cannot go get another loan for a car, house, apartment, etc. so it damages their credit by stretching them too thin.Am I missing something? 

The credit unions tend to have lower fees and offer solid business products.

And don’t sleep on local banks or credit unions—they sometimes offer flexible portfolio loans that could work for a deal like this.Since your wife qualifies as a first-time homebuyer, check out any state-specific programs or HUD options for down payment assistance.

Get knowledge, follow experienced people, and leverage wisely.My Take:If you have two houses, excellent credit, and motivation to build wealth, you can learn to manage your money responsibly.Use HELOC, credit cards, and business credit funding to leverage your cash and buy properties faster.

Choosing the right lender for a HELOC (Home Equity Line of Credit) can make a huge difference depending on your goals.

I am unconvinced that the new administration will meaningfully address the deficit and US credit will continue to erode gradually, contributing to rising rates.

Any good recommendations for the collection agency or any way to get the money back from the tenant or any way to report it to the credit bureau?

@Vinny Muli - it is VERY hard but not impossible to get an equity line of credit on a non owner occupied property.