Once to get out of mortgage insurance and again to get my current interest rate of 2.2% (closing costs, added some debts several years back, shortened the term of the loan). 

@Felicia GossettHi Felicia,I was in a similar situation in 2019. 620 credit score and $40,000 in credit card debt and almost maxed limits.

Because the Savings and Loan firms weren’t public traded over 1/3 just closed and the US absorbed the bad debt.

Purchase Price: $369,000Rehab costs to date (Cash/0% Credit card): $22,000Additional cosmetic rehabs: $6-8kAs-Is Appraisal: $420,000 (April 2021)Current Rental Income (friend living with me): $800Mortgage: $2000Comps in the area: $490-560K but average sqft price $264 with prop size of 2450 sqft, so could be more.Rentals in the area: $2.5-2.9K a month, not including additional living space.My financing/current capital methods:Personal Income: $129,000 a year.Rental Income from above: $800Student loans: $340 a month.No other debts other than CC payments for rehab and personal debts: $12,000.Savings (does not include investment accounts, 401k or IRA): $12,000Cumulative CC Limits: over $50k.My questions include: What are my best options to get this thing to cash flow while adding as much value as possible for a refinance (pay off CC and have cash for another off market property I have in the wings).

Debt financing is applied after NOI is calculated.

Lenders won't accept any profited rental income towards my income but will cancel out the debt if I provide them a lease.

It doesn't matter, because I fully stand behind my abilities as an REI and plan to pay all my debts.  

Another option, might be to get private money or hard money, fix up the place so it can be appraised for higher then go get long-term debt that can appraise higher thus cash-out refi with less money in the deal if this deal is a good buy.Best of luck  

Yes, you could refinance out and capture your VA eligibility, but the debt you have secured is low, and you can hold the properties for up to 15 yours without doing a 1031 exchange.

However, screening of the spouse revealed debt, collections, no source of income, etc. - I would never accept that person alone.