To calculate return on equity, divide the cash flow  /  equity in property = Return on equityNow can you achieve a better return on equity in another property?

I have about 10K coming and debating to pay off credit card balances down to 0 each, as well as a certification, or use that money to invest in a property.

Balance it out, does the bad outweigh the good?

Have you achieved positive cash flow and how much? 

@Curtis WoodsIf you are self-employed (i.e. active self-employment earned income separate from your w-2 income) with no full-time w-2 employees, you can set up a Solo 401k and then rollover your 401k funds once you leave your current job [NOTE: You generally can't rollover funds that you saved to your current employer plan until you quit.].You could then take a loan of up to 50% of the balance not to exceed $50,000.

No, not income.Would have to see the settlement statement and county property tax statement to be sure, but generally it is a reduction in your property tax expense for the applicable tax year as that is the seller's prorated portion of property taxes for the portion of the year he/she owned the property.It's generally a current liability that hangs out on your balance sheet until the next property tax payment cycle.

Is the fund using high leverage to achieve the projected yield? 

To fund this initial purchase, I had to tap 401k for substantial down payment with balance financed by Seller. 

Within the FI and FIRE communities there is a lack of consensus around 4% specifically and you'll find the more conservative members favoring a lower rule, like 3.6% or 3.8%.The reason this is considered a "safe" rate to draw down on your investments is that the overall market returns OVER TIME are well above 4%, so if you build your assumptions on numbers that have historically been achievable, then you'll have the highest likelihood of achieving similar results.   

You're responsible for paying cash upfront for the deposit and then you have a period of time to pay the balance.