You know the formula: over time the property appreciates, rents increase, you pay down your debt... along the way you get leverage galore and even tax breaks for depreciation, interest, taxes, etc...So buy a place, rent it and do that for a decade or two (or three or four)......Ka-ching.

I too have been learning and reducing debt for the past year and am ready to pull the trigger.  

The liability coverage on your condo HO6 policy will pay for your defense costs and settlements up to the policy limit if someone were to sue you for damages incurred inside your unit.

Many Realtors who do not invest themselves are looking more at the appreciation and debt paydown, and dont fully understand the cash flow side of things.  

I still owe 600K so I will be taking on the same amount of debt.  

They are not going to let you refinance from 180k in debt to 150k in debt.

Your debt to income eventually maxes out!

What are the obligations of a California SFH family of owners who rent the attic (which is one big finished bedroom with private bath) out to a single man who went missing the 2nd of the current month we now find out he was pulled out of his rental car and extradited from California to New York on a warrant out for his arrest for a DUI accident that happened 2 years ago.Details of the accident not that have a keen interest but for what its worth will share his story: victim, a retired man, who sustained a brain injury 2 yrs ago from that incident, has apparently taken the turn for the worst and decided to press new charges for new medical costs and decline in mobility/quality of life, stress, anxiety etc for the accident 2 yrs ago which insurance paid out but victim wants the settlement amount (175k) a second time over? 

You have a lot of debt to pay off and that income will finance your real estate.

On an individual basis, I have a credit score over 800 with revenue already being created and have very little debt.