Duplex BRRRR Question

[Grant Waugh]

Question on strategy for buying a duplex. My strategy would be a BRRRR but I don't know how I can make it work.

The asking price is 182,500 and each door will rent for 1000-1100 so decent cash flow. Repairs are estimated at 6k But I’m not sure how to find accurate comps for a duplex that make sense on the asking price. I found a comp within a half mile that sold 2 weeks ago for 135k. My concern is that It would appraise for lower than purchase price when I go to refinance and I wouldn’t be able to pull cash out on the refi to cover the 20% equity. Also concerned that hard money loan wouldn’t cover the purchase since it may be overpriced.

Any ideas on how I could make it work?