It has 5 years left of fixed debt remaining, which makes me feel okay about it.

If it were me, I would buy cash flowing, seller finance deals, keeping my debt to income low, low down payments and negotiate competitive terms.

I also use the Costco/Citibank VISA cash back card to pay for expenses.  

I think he is over leveraged to a 90% debt ratio.

You must first get out of debt, pay off all bad debt, then begin to save for investing.

The other option I potentially see is to partner with someone that has cash and/or better debt/income ratios and partner on the next purchase.

If it's a matter of a quarter point but the more expensive debt is with a bank that offers better other terms like amortization and LTV, and they have a rock star loan officer, I'd go with the slightly higher interest rate product.2.)

Eliminate debt, establish a budget, and save.

Taking the higher of the two, that's 52k in debt service for 12 months.

Just curious why you're looking at those two banks for credit cards?