First Duplex...a few questions.

[David B.]

Here is a summary of the deal in front of me:

Duplex in Minneapolis, MN (investment property, I won't be occupying)

Purchase Price: $250,000

Rehab needed: $10,000

ARV: $300,000

Units w/ est. rents: 2/1 @ $1,400 & 1/1 @ $900

Available cash: $60,000

A couple questions (which may lead to more questions):

1.) What financing options should I be considering? commercial 20 yr w/ rehab funds? hard money and refi after repairs and renters are in place? something else?

2.) Should I be forming an LLC and buying as a commercial entity or is it okay to buy in my name for the first deal?

Thanks in advance.