I am definitely doing some of my numbers to see where we stand financially and see where we could improve. ( credit card debt, school loans, etc. ) how long after u decided to REI did u you purchase your first home?

If you look for strictly an investment property you may have some cash flow but you do not eliminate any of your own monthly expenses for housing.

@Sonny Sach A good metric to pay attention to along with the IRR would be the Debt service coverage ratio and CoC returns especially if you’re leveraging equity with debt.

Without my knowledge, he was taking the draws to pay himself and not debts he created with this project.

If you've got debt dragging you down, take care of it to at least a comfortable/manageable level.

Last year was a good year for my business and between student loans, medical, and a small amount of consumer debt, we paid off a whopping $34k in debt in about 13months and stashed about $10k in savings.

If yes, then you should be fine since you don’t necessarily need the new unsecured debt. 

If its through excel or pen and paper, how do you categorize your debts vs credits?

We then treated the unit while she was in residence (to eliminate chance of them spreading).

there are other lending programs that would not require this but if you are wanting the best programs agency debt then @Janelle Groenhout has the right idea