Should I be debt-free, or should I invest in RE to become debt-free?

my debt is ok but could be better.

Eliminate the capital gains tax for any single family investment property purchased in 2009 and 2010 and watch the inventory disappear.

Interest will vary but will run from 7% to 8% most likely for a fixed rate.They will require the following info:Balance Sheet2 Years Tax ReturnsRent RollProperty Info - what it will appraise for, the loan amount your asking for etc.To qualify you need a credit score above 620, debt service coverage on you properties 1.2 or above, enough cash reserves for the number of properties you have.Appraisal and attorney fees are paid for out of the closing usually.

Some buyers might have their own money, eliminate hard money costs.

You say debt is $6000/year and the loan is six months behind needing $3000 to bring current.

Here in CO, the owner's redemption period was just eliminated as of the beginning of 2008.

It seems the downpayment with my end buyer is as ggod as an assignment fee but then I get a little bit of spread on mo.income vs. mo. debt and I get the spread of the sales price when the end buyer cashes out so it sounds really good but what am I missing?

in about a year i should be making 60k+/year working around 30hrs a week with zero debt.

Another way I use financial statements is before I get ready to make a deal, or when my personal financial situation changes, for example needing to move or earn more money, I will look at my income statement, my balance sheet, and my list of properties that shows value to debt numbers and cash flow numbers.