I have a credit union that will lend to my LLC at 4.75% for 25 years.

I've decided to get a home equity line of credit and use that money to do some investing.

This particular property is a Short Sale in Cincinnati, OH and has about $2k (1 years' worth) of past due taxes on it.My contract with the Seller reads, "At closing, Seller shall pay or credit on the purchase price (a.) all real estate taxes and essments, including penalties and interest, which became due and payable prior to closing...."

Nobody even checked the title of the homes to see who the owner was, but if they ever did, I would tell them that I was part of the investment using my credit to help out and do the management, but ultimately my boss gave the money and had the control.  

The issue I have is that I have some credit card debt thats holding me back making it very hard to save for capital for a down payment.

@Phillip Dwyer asking great questions is key and something i need to improve on.

Also, do you know what the highest, best use of your Sonoma property is, given its current zoning, user permit, and existing improvements?

@Athena Lei The money judgement will stick on their credit report.

I'm wondering what people's thoughts are on the area, both as a rental market/cash flow, but also the chances of gaining some appreciation there if/when things improve there.It does look like there are some relatively reasonably priced (In terms of the average cost in Miami these days) properties for sale there - both single family and multi-family.

If I own the pharmacy, I have:Rent - a premium, high-rent payer,Credit – tenant has great credit,Building - vertical improvements in the form of the building,Site Improvements - in the form of a parking lot, curbing, storm controls, etc,Zoning – I own real estate zoned for a broad variety of commercial uses, andReal Estate - I have a great piece of underlying ground on the hard corner of a signalized intersection with the highest traffic counts in the area.There is a market for this type of product.