Nation is opening up their 2nd location in the old firehouse..... lots of good movement..affordable, quiet pockets, not disconnected from downtown/highways like most of the westside. 

Short term I'm working on squaring up my credit, paying down debt and getting my credit score up.

I don’t know GA law but some it may have previous debt from when you bought it.

If you have good credit and a good debt-to-income ratio then you should be able to get another mortgage.

)                           -   Gross Monthly Operating Income              32,642.00 Monthly Operating Expenses Monthly Property Management Fees                   832.00 Repairs and Maintenance                1,000.00 Real Estate Taxes                5,241.00 Rental Property Insurance                1,959.00 Homeowners/Property Association Fees   Replacement Reserve                2,000.00 Utilities                1,291.00  - Water and Sewer    - Gas and Electricity    - Garbage    - Cable, Phone, Internet   Pest Control                   155.00 Accounting and Legal                   150.00 Advertising   Monthly Operating Expenses              12,628.00 Net Operating Income (NOI)   Total Annual Operating Income            391,704.00 Total Annual Operating Expense            151,536.00 Annual Net Operating Income            240,168.00 Capitalization Rate and Valuation   Desired Capitalization Rate 10.00% Property Valuation (Offer Price)         2,401,680.00 Actual Purchase Price         3,100,000.00 Actual Capitalization Rate 7.75% Loan Information   Down Payment            620,000.00 Loan Amount         2,320,000.00 Acquisition Costs and Loan Fees              60,000.00 Length of Mortgage (years)                          30 Annual Interest Rate 4.970% Initial Investment            680,000.00 Monthly Mortgage Payment (PI)              12,411.76 Annual Interest            114,527.10 Annual Principal              34,414.02 Total Annual Debt Service            148,941.12 Cash Flow and ROI   Total Monthly Cash Flow (before taxes)                7,602.24 Total Annual Cash Flow (before taxes)              91,226.88 Cash on Cash Return (ROI) 13.42% The property is being given to me after completing 40 year certification (updated plumbing, electrical, parking, most units are decently remodeled.

She qualified for the 211K, but 245K was outside her comfort zone and went over her allowable DTI (debt to income ratio), but adding $750 per month in potential income to the equation made the 245K property doable.

The most conservative investors will opt to pay off their debts asap with the belief it is a safer bet. 

That would be a very risky move, you would have a very high debt to equity ratio.

BTW appreciation makes you a fortune when acting on a lot of rentals (all with max LTV IE max debt).   

I don't have any savings and yes I have a job but I also have debt like a car loan, personal loan, student loans , and credit card debt so if I wanted to purchase this property what are my options?