Buying first rental property with investor money

[Frank Leone]

First time real estate investor looking for some advice. I have been doing lots of research on rental properties and the potential for accumulating passive income. Now I would like to buy my first Duplex. I will be using a friends money for the down payment on the home going through a bank to acquire a conventional loan. Now I will be putting roughly 10% down on the home and using the left over $3000 of the money I have borrowed for emergency expenses or vacancies. I will then pay him back over the course of 4 years. I have done some rough math and as I pay him back I will still be profiting. Even greater profit once he is paid off. I know the other factors that come into play such as location, average rent, etc. I have accounted for those things. Just want to see if the basic layout of what I want to do seems viable. I believe it to be. If you have any tips or suggestions please let me know. Thank you

[Jason D.]

@Frank Leone have you researched loan products? The lowest downpayment I've seen for rentals is 15%, and that was only for single family. 20% for multi. Are you sure that the bank will allow for an unsecured loan for a down payment? Most will not allow this.