You’ll either find a better deal or find out it’s “normal” for your market. 

It would be abnormal and outside of normal appraisal standards of practice to use duplex comps. 

(I am not saying this is wrong in all situations, however, paying higher than normal rent payments for your down payment may show you do not truly appreciate the want of buying or owning a property).  

But, save as much of your cash as you can for reserves and another purchase down the road.If that appreciation is regular/normal and not an anomaly, I see the appeal here. 

Austin's real estate market is normalizing.

Most of these are a standard SFH residential loan, but for business purposes so they normally require a 20% down.Not as easy to get, but there are 10% down 2nd home loans that people, including myself, have gotten in the past.Comps are based on SFH sales, unless you are buying Multifamily of 5 or more doors.

I've done both a HELOC and a cash out refinance on my current house to buy my 9 units and it may not be the most efficient way to purchase but it has allowed me to own 2.5 million in real estate and have 500k in equity that will grow at 3% or $75k a year with normal inflation.   

I normally purchase very cheap homes, remodel, refinance and rent.

A 3BR with CH&A normally goes for $9500. 

I Sold them, made some great appreciation , now as people return to normal vacation travel occupancy and rates are bound to go back to normal,  people that bought them at double the price are going to have a hard time.