You may, unfortunately, need to bring legal action to get rid of it.

You can get into the property for as little as 3.5% down, however I would recommend at least 5% to limit the amount of PMI you pay, and the fact that you can more easily get rid of PMI with more money down.

There are other debts I would like to get rid of but I kinda need at the same time.  

After one year, you can refinance it and get rid of the PMI.

Tenants are a major negative factor in your situation.If it is a SFH your only/best option is to get rid of the tenants, serve notice immediately, and sell to someone willing to buy as a home owner.

Or do I have to wait for a sheriff to instruct me to get rid of the stuff?

That mixed with the fact that I could turn any of the houses in the better part of town into a flip if I had to get rid of it and make 5-15K was why I was ok with lower cash flow. 4.

@Herly C. 1) Get rid of this tenant as soon as legally possible.

I went ahead and knocked on their door to alert them of this and to tell them I would pay for an exterminator to get rid of it.

So i would get a 75% LTV and get rid of my mortgage insurance.I know i have seen people on BP say get an investment property and take out a HELOC on the investment property so i don't know why they are saying it isn't going to be possible.