The unit I live in can get 3500/month in my area.I can refinance to get rid of my FHA and PMI on MF 1 and use an FHA to get into MF # 2.MF 1 rental income will cover my new mortgage payment with cash flow and I can grab my second MF.Any thoughts?

Like already mentioned there's not much to do....2 days exploring the area would cover everything. 

@Alexander F PollockYou may lose a tax benefit of a stepped up basis for capital gains purposes transerring interest away from her parents.Also consider conducting a judgment searches on all parties to the transaction to confirm there will be no title problems for would come up when the LLC sells in the future because you will not have title insurance to cover prior owner issues.

Factor in the down payment, closing costs, and potential renovations.Cash Flow Analysis: Ensure the rental income from both units will cover your mortgage, taxes, insurance, and maintenance costs, leaving room for profit.

To be fair, some of those issues may not be covered such as contractor's cheating you and I have never seen a pipe burst cause a total loss.

I purchased a duplex in May of this year and moved into the bottom unit with the intention of renting the top unit as well as the sf I moved out of which would put me in positive cashflow (the top unit of the duplex does not cover the duplex mortgage entirely on its own). 

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I know my mortgage payment would go up the amount of rental income I receive should cover that new payment with their still being some cash flow.I would like to get out of my current FHA so I have the option to use it for my next MF purchase (if that is even allowed I am not sure).My question is what am I looking at currently for rates on 15 year refi conventional loans?

I love to learn and love to teach so if anyone needs help in this area I have you covered.