The advantage if needed by calling it an investment home is that you can use the potential income from the property to help your debt to income ratio where you cannot do this on a second home. 

Or we print xxxxx dollars to cover our interest and debt payments.  

They use an economic vacancy figure instead of breaking out loss to lease, bad debt, and concessions so as to conceal their assumptions but a skilled operators can reverse calc it.

The question is, did she relinquish possession?

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

The obvious answer here is to somehow get some income and start paying down the credit card debt. 

The scariest part is taking on debt at 75% LTV and less than 10% of BAM's money is in the deal.

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

. $100 million equity & debt managed.

.- If I use any of the above, can I use a portion of the money to pay off personal debt?