Hey there!I am new to BiggerPockets and I am really interested in getting involved in real estate after I graduate from college this fall. I have roughly $27,000 in retirement and stocks that I have been investing (I ...

I currently own a home (225K) and make approximately 85k a year with no other debt.

Look closely at the lake house numbers, in my STR experience, the start up and ongoing costs were higher than expected to maintain quality.The question of acquiring more investment property or paying down debt is definitely a personal choice, and depends on your current income and other factors.

Should I pay the debt I incurred or use that equity to purchase another home.

How much are you planning to borrow and will the new actual income adequately service that debt.

My worry here is the long amount of time I'd have to carry this extra debt, and that it might sour an otherwise good deal with this payment on top of a commercial loan. 

I've found that larger (80-units or more) apartment deals that come from wholesalers are usually a waste of time - mainly because the financials (like T12s, Rent Rolls, etc) are incomplete. 

I have significant investment capital and a couple of single family properties that I own free and clear. Now what? I've made some investments in a rush and on impulse in the past that didn't work out so well. Vowing ...

I've narrowed my strategy down to two routes: send mailers out to my county tax delinquent list, or select a neighborhood that is mainly vacant but is fully platted and has some new construction popping up (there is a specific neighborhood I have in mind). 

Before going to an attorney I would ask the main partner if they already have an operating agreement structured.