Duplex vs single family

[Daniel Long]

I’m purchasing a property that is currently a duplex. Needs about 25k rehab. Dilemma: duplex comps in the area are scarce and mediocre. I was told by an appraiser that if I remodeled the property back to a single family property my appraisal would be much higher. If I do that, I would come out of pocket less due to refinancing LTV but monthly income would be about $300 a month less than if I keep it a duplex. My objective is maximize passive income but also spend as little out of pocket as possible. Anyone have any insight that has dealt with this?