I would definitely go with a utility cap. 

NOI: $49,536CoC ROI: 16.57% / CashFlow: $1488/moPro forma cap: 8.26%Purchase cap: 11.79%Check out breakdown below 👇🏾 https://www.biggerpockets.com/analysis/rentals/6c76954e-deb6... 

STRs can bring great returns but are higher risk and more hands-on, like small-cap stocks, while long-term rentals are stable and predictable, like large-cap investments.

The cap rate on the property was a little over 4.5%.

The HELOC strategy may work, but many lenders are wary of putting a HELOC on an investment property and if they do they still cap LTV at 75-80%.

The property will cash flow $500/mo or more after all expenses and cap ex reserves, as well as the payment on the SBLOC.

How will know where all the cap ex is?

I applaud you for putting it out there but 1) maintenance/cap ex is far too low for a duplex 2) no PM. 3) vacancy at 1% will be challenging if achieving near market rent.

The plan is notorious for minimum insurance and they were previously capped at $20M for larger commercial and HOA properties.

I have referred a loan out of state based on NOI, cap rate at purchase, room for increase income and purchase price vs market value.Maybe I didn’t articulate the intent of the post as clearly as I hopedFor anyone who has bought multi family out of state, “what are gives you the warm and fuzzies about a deal”:Obviously not cap rate, but maybe vacancy rate,  Cash on Cash ,GRM, IRR, Unlevered free cash flow, Cities over 250k?