My concerns are the amount of margin that will be consumed by financing the property as well as capital gains taxes and possible holding costs.

MelindaHi Melinda,Thank you for your support!

The reason I picked Xero (to use with HR Block) is because I saw all the horror stories on the Quickbooks support page for how Turbotax (the company that owns QB) won't import from the QB export file (has to go through a conversion step).

Here are the items of concern (to me) that are listed on the inspection report.Roof appears to be 15-20 years of ageMold buildup on the foundation walls and support joists/subfloor.

In order for something like this to pass muster, I would think you would need to have an arms-length company in place that could provide Consumer you with a written quote for the job based on fair market prices and reasonable profit for Contractor you, and then maybe at least one or two other quotes from competitors.

While most people may jump to the idea of building an addition to the house, that endeavor can be both expensive and time consuming.

Something like that will allow you to have the support you need to get started, while also allowing you to make some money if you do well.

. :)Rents will likely track with overall consumer inflation, but you mortgage payments are fixed, so the more inflation, the bigger your profit margin.Interesting times, for sure.

You will find a way but I think you need to make up your mind now and make the choices necessary to crush your consumer debt, even if it means selling your house.Best of luck. 

I don’t have any real investment advice, just some support for the area you chose to invest.