This places you in the third tax bracket, with a 22% rate.

Great time to for multifamilies rents are high rates are dropping and values will continue to climb for 2024!

Currently in DFW (assuming, because MKE may be similar in this regard), I would find it a surprise if you cover your cost of living completely (i.e. living for $0, or getting paid while in the unit) at this time of relatively higher (read: historically AVG) interest rates compared to 2-10 years ago.  

I don’t see the sense in paying off my own house at presumably low interest rates, and exchanging that for a higher rate, variable interest line…unless I have a really good plan for not losing my house.  

Our strategy is to improve the property and raise rents above the HUD rate. 

Just look up amortization schedules, and fill in the blanks for:  principle, interest rate, term. 

I'm curious about how they are able to convert your business credit cards into a cash line of credit while avoiding the high balance transfer interest rates.  

In my mind, it is simply a hurdle rate.

So we've got a return of 23% on our first and a return of 175% on our second.TL;DR - Are owning free and clear assets better than having high rate of return? 

Here's a bit more in detail about how rates are calculated for DSCR loans:1.