Even if the credit card debt was $0, your DTI is way too high to qual for any new traditional/conventional loan until the units are rented.If youre going to keep this duplex, I'd focus on getting one of the units in service as fast as possible.It sounds like there is currently a decent-size lien ($7300/month) on the property.

Fast forward to 5 years ago when I sold my second business and realized how utterly unprepared for retirement I was now that I’m almost 50.

With VA, there's really not a hard and fast FICO rule and it's up to the lender.

I think it’s the shock of how fast they went up.

Not so fast, you didn't cover equity skimming or dealing with a "protected class" or  . . . . . . . . . . . ;-)  your right because I dont charge to consult for sub too.. 

Close fast, stay in comfortable LTV positions is the name of the game.

The city is growing very fast, so you should see a lot of appreciation as well.

There may not be a lot of equity in it in just 2-4 years as real estate isn't increasing in value as fast as in the past.If you want to build a rental portfolio, your unrentable condo isn't going to help.Buying a new primary, that you can eventually rent out, would be better for building your portfolio.A challenge will be finding a new, TEMPORARY home, for your family that will be a good rental when you move from the area.

Depending on if this is your primary residence or not can alter the strategy but that's the gist  This is great (and fast!).

One of the giant missteps of the journey is going too fast, taking on too much, starting way above your comfort level.