You think I should just keep on making minimal payments or should I go ahead and pay down the 20%.  

Didn’t pay his last two months of mortgage payments.

Purchase price: $85,000 Cash invested: $46,500 This property was just acquired, part of the investment was in leu of payment for work completed on another project.

I'm a first time buyer.Here's what I show my clients to help them decide if buying down the rate makes sense.In your scenario, the difference in your PI payment @ 6.275 and 5.75 is $54.71.

Having a mortgage payment plus needing to pay an extra $1k/mo towards this TSP loan will crush any cashflow you had hoped for.  

If I take those out like a HELOC how do I actually pay that loan back as I'll still have a monthly payment for that loan? 

I would be looking for something in the 200k range and have anywhere from 100-130k for a down payment. 

If you are locked in at a three-handle, I would HELOC the equity and use it as a down payment on a new deal.

By doing so, from her perspective, if you miss a payment she keeps your 70k and takes the house back so thats really good protection.

If it will be an investment property, you can use a DSCR loan where all you need is the money for the down payment and to close and credit score depending on the factors below.