Multiple Houses on 1 Property. Pros and Cons?

[Derek Wilson]

I am interested in a property that has 2 houses on one parcel. It is a cash only listing. I would like to purchase in cash and then cash-out refinance. Asking 140,000. Potential rent total $2,000. Both houses need some work on the exterior but look great inside. Thoughts?? Do lenders have an issue doing a refi on this type of property or is it considered a duplex even though they are not connected? Property is in NC

[Kenton LeVay]

If the properties are fixed up and livable I don't see why you'd have trouble refinancing. I'd check with a lender first to make sure. I'd imagine some lenders could loan on each individual unit and some prefer to loan the total value as if it were a duplex.