I'd go for the down payment on the house rather than paying down debt, best of luck on your endeavors!

Wish you all the best on your future real estate endeavors.   

Do legal permitted work, people sleep in these structures.Knob and tube wiring is not ok, there too many reasons to unpack in these threads but some are, no grounding, old annealed copper, improper insulation, switched neutrals and speration of power and neutral creates an electro magnetic coilElectricity does not flow through a conductor it flows around a conductor (that's how a transformer works) Do not take building advice from investors.And as Mathew stated tennants should NEVER go in an attic.Manage your risk, ignorance is no excuse when in front of a judge.

I'm concerned that if I share it's to buy more property, they may see that as a risky endeavor and charge me more for the loan or lower the LTV they'll offer.

Good luck on your future endeavors.

This is our first rental endeavor and I am not sure what the legal issues are for us with not having hot water for a 12 unit building for a few days while we wait on a part to fix it.So this isn't a matter of nickel and diming - they just don't have the part stocked because its an older boiler system. 

I think most folks on this forum would tell you that RE investing is not a get rich quick endeavor.

Hope this is somewhat helpful to you and good luck in your new endeavors!

It appears that you have the drive and desire and you just need to gain experience to help guide you in the application of the principles that you already understand.Best of luck to you in your future endeavors. 

Comm’r [615 F.2d 226, 45 AFTR2d 80-1248 (CA-5, 1980)], “a single transaction ordinarily will not constitute a trade or business when the taxpayer enters into the transaction with no expectation of continuing in the field of endeavor.”However, to my point, if he engages in flipping again, the IRS could hold this sale as part of his ordinary trade or business.