<prompt> Human: Im trying to buy a rental property from my brother for 45,000. I know the house is worth more than that. My first attempt was to get a home equity line for the 45k. I dont have much equity in my house maybe 10k mortgage is only 2 years old but I know my house was also undervalued when I bought it. I was denied for a home equity line for the following reasons: The ratio of monthly payment obligations to monthly income exceeds guidelines Insufficient down payment andor equity in collateral Number of revolving credit lines.Im not sure about 1. I have a large sum on credit cards 32k mostly from house upgrades that Im trying to get rid of. One last ditch option is to cash in my IRA for a penalty and borrow against my 401k. I dont think its the best idea but Im 26 and refunding my retirement is still cheaper than 18 about 470ish a month in interest I am paying now. This would wipe out almost all of my outstanding CC debt. I would also still be contributing to another 401k with my current employer.For the down payment andor equity issue I have a couple ideas. One is that I can get 10k from my mother-in-law. This could either be applied to reduce my current debt or as a downpayment. The other is to have someone actually re-appraise my house at market value so that it appears I have more equity than the bank seems to think I have. I did a lot of work to my house including hardwood flooring, a new master bath, kitchen improvements, and refinished the garage. Its a 4 BR 3 Bath with huge kitchen on 15 acres with 2 car garage and another detached garage and is only being valued at about 140k. Other comparable homes have sold for 190k in my area.I can easily remedy the number of revolving credit lines, but that will also increase the credit to debt ratio. Wont that be a negative?The main reason I want a rental property is that we have a ton of oil and gas workers in our area renting. Most properties that would be 400-600 for a 2BR are now renting for 1200. I was hoping to cash in on this gas boom and pay off some of my bills. The monthly payment would be 320 and I could rent this place for 800-1200.I know this was long, but any suggestions would be very appreciated.  <response>: I have a detailed response to another in this thread here that I hope you read, but again, so you dont miss it, Pay off the damn credit cards first. Guaranteed 18 or so return. You will not match this roi with a rental property if its your first go at it. 