I’m currently paying down debt by this summer and should have saved for a relatively small deposit by EOY 2019.Here is my current position.Purchased 1st property as a USDA in MauiUSDA Ln: $400kMortgage: $2202Consumer Debt: $0 (06/2019)Owe Aprx: $385,000Home Value: $500kIncome: $74k yrlyDown payment: $23k (12/2019)720 Credit score Im looking to purchase something small, preferably in a wooded mountain area (ideal for short term rental) but open to anything affordable.Right now I have my short term goals set out but been wracking my brain trying to figure out the next best possible approach to REI.Any help or advice would be GREATLY appreciated!

I don't have very much saved as of now, being that I have been attacking credit card debt and not saving as I should.

@Stanley Bronstein  @Jay HinrichsTen years ago Texas changed CD law so it eliminates almost all the abuses, but still maintains the essential element of allowing people unqualified for financing to purchase a property.The law that accomplishes all of this is astonishingly simple.  

This also happens with bridge loans from large, institutional debt funds.

Taken to the logical extreme, what if the 506(b) exemption is eliminated due to rampant abuse?

do i pay off most debt under the 30% and use my savings... then re apply?  

The debt is a big hurdle.  

Bank statements:  While you might be the one paying the debt every month, the bank will still be sending the original owner the statements. 

Benefits to invest in his business for some growth capital. new equipment purchase, and consolidation/restructuring of existing debt.I dont have any financial experience in regards to a business, and  just based on his explanation, something doesn't make sense with his income-debt(i dont know what exactly which is why i am here) My question is : " where is a good simple resource i can use to help me make sense of his books?"

We have tenants sign this form when we collect the deposit and it eliminates confusion should they want to back out