I am just wondering if I should just prepare to have to move out when he dies, and not take on the children or the student loan debt that one of them dumped on him 5 years ago.

Most lenders main concern will be the as is value in relation to how much money you need. 

No to real estate investment for the timebeing for me at least ( temporary)Because I already invested and I want to see how the market is doing, I want to learn more, networking.I am against real estate gurus who says invest in big amount and leave your job bla bla bpa, first when you invest in big amount and you do have cash the interest rate will be huge and this decrease your profit and yield/ cap , also high yield mean high risk second real estate as any business have good time and bad time so leaving your sustainable job and depends mainly on real estate investment is quite risky method, if one could generate double or triple his income real estate this is something else, I don't think typical person could rich quickly without high risk

For example, I think we are late cycle, so I lean toward the safest part of capital stack which is debt (or debt free equity).

The main reason I liked that is that the cash out was tied to the great terms of a primary home (low interest rate and 30 years amortization).

Also, I'm not sure how to "cut our losses and move on" when there is still a debt to be paid, that neither we or the contractor can afford to pay.

I'm from the SouthCoast area of Massachusetts and I'm interested in multi-family investment properties, and potential flip opportunities mainly in the greater New Bedford/Fall River area.

These kinds of loans are considered revolving debt and the amount can be used at any time and you are only charged interest on what you use.

My main focus is property management and investment real estate sale.

@Marc Alston I would put debt on the 7 free and clear properties.