It sounds like the issue is with the Debt Service Coverage Ratio (DSCR), which lenders often use to determine how much they’re willing to loan.

Eliminate debt, establish a budget, and save.

The lender lent based on them being one thing which secures the debt.

Eliminate debt, establish a budget, and save.

This takes care of your debt paydown.

I hope some new investors read this and see what you are prioritizing (get rid of the cc debt) above other things.

They have told me that assuming credit, debt, etc check out fine that I will have enough equity in the land to make the downpayment for the cabin that I want. 

Total debt is $2,433. 

Cancel bad debts.

Ensure the rents and expenses support the debt service and provide solid cash flow after covering the assumable loan, seller carry payments, and operating costs.Occupancy & Rent Roll: What’s the current occupancy rate?