If you need financial help, ask under the "Finance, Tax, and Legal" forum.

If you'd ask this question while still employed I'd say apply the $8500 toward knocking down the debt quicker but since that is not the case I would build up your reserves to about 6 months then begin applying those funds to bring down the debt. 

@Cory Kerr "if it ain't broke, don't fix it" - I have boilers in one of my buildings and only recently transitioned to electrical baseboards because we were having to the bill for the entire building.

I’m excited to be here and connect with like-minded investors who are passionate about building wealth through real estate.

Also, consider the appreciation and tax benefits.

Working here has been eye-opening and having spoken and worked with over a 3rd of REI's clients has been remarkably motivating for me to build my portfolio. 

build it instead of buying it. especially in the 5-50 range you are going to get garbage that's 80-120 years old in c neighborhoods. i can find land in almost any zip code and make the numbers work in columbus. or partner on a project locally. just my 2 cents but build to rent is much stronger right now in my opinion in columbus than buying existing assets 

You could house hack by purchasing a small multifamily with an FHA or conventional loan, reducing your living expenses while building equity.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

I've come across some interesting niche strategies like buying small plots of land and slowly building, investing with a team/syndicatikn (if you find a good one), or even funding smaller infrastructure projects for commercial properties (e.g., electrical, plumbing, etc.).