Buying a multifamily with equity on my current home....

[Toua Lee]

Do you think its a good idea to purchase a multifamily investment property with my equity on my current home? purchased my current home for about 230k downed 115k on my house because that was the only way i could get a loan. Now my house is worth up to about 280k. Interested in purchasing a duplex for about 80k-100k. My mortgage payment will still be the same the only change is instead of 10 year loan it will now be a 20 year. I'm estimating rent from the property will bring in about 1,600 to 1,800 per month. This will be my first investment property and from my perspective this would be an awesome deal, because the only thing I would have to put up is paper fee. Is this a good deal or am I putting my house in jeopardy? Any advise is welcome... thanks