In my opinion, how you pay down your debt is a personal decision that you and your wife must agree on and commit to in order to have success.

Seriously, speaking though, I strongly recommend in speaking with a local Realtor.

Their economy isn't strong, unemployment is high, and drug use is prevalent.

We have two strong candidates right now and would love your thoughts on this.First, it is a higher-end rental ($2350/month for a small 3 BR, 2 BA single family home.)

By the way I don't really have a closing attorney yet, I mean I know of one but I am not committed to anyone yet.

But I will commit to this business model and see the results for myself.

Chapter 7 to completely wipe out everything or chapter 13 repayment plan which doesn't go away until dismissed for non-payment or the plan is completed over time and discharged.Check to see if current rent on the lease is at,above, or below market rents for similar properties.If personal guarantee and tenant has strong net worth then it could be a positive because if they default early you can go after them personally for the money.

New construction still really strong, but the pre existing home sales much slower.

If money is the motivating factor I strongly suggest you do plenty of homework before you actually make the move.

Stay disciplined, stay strong my friend!