I'd recommend connecting with local agents and lenders.

You can do this by hiring a Registered Agent and/or a virtual office service in Florida.

My question is, should I focus on paying off my debt which is credit cards and a car loan roughly about $20,000 in total and go to the closing table with no debt with enough for closing cost and a little bit in reserves or should I focus on saving more for closing costs and reserves and go to the closing table with more cash in the bank account?

So, don’t feel discouraged.From a tax perspective, here are some things to keep in mind as you start with out-of-state BRRRR or small multi-family investments:Track everything for depreciation: Your purchase price, closing costs, and rehab expenses all feed into your property’s cost basis.

From my experience with other out-of-state clients, I’d recommend building a solid team (agent, contractor, property manager, etc).

Spend is ads manager plus market spend (PPC spend), and closing about 4-5 deals off of them within the past 6 months.

Looking for capital partners to assist in the journey (have a 10+ cap RV deal I am looking to close on in Jan 2026 and am looking for a cap partner at around $2 million).

Purchase price: $2,400,000 Delivered tax assessment review, municipal lien research, and title status verification that supported the successful closing of a $2.4M commercial property in Houston.

I’m an agent based in the Valley and would be happy to connect to discuss your situation in more detail.From what you share, both options have pros and cons:Refinancing and renting: You could potentially refinance, even without 20% equity (though cash-out options may be limited), and rent it out at roughly break-even or slight positive cash flow.

Quote from @Tre Brooks: You are working with wholesalers that are most the time telling the seller they can get their number (close to market value) to get the deal signed with them.