This means that if the bank forecloses, and you can’t pay it off, you will lose all of your money with no recourse to anyone.One option to secure your loan is if one of the partners has a free and clear property worth significantly more than your loan.

It’s also worth considering a multi-family property for your first deal since it can help with cash flow.

Honestly my wealthiest clients and friends with 8 figure plus net worth have little to no debt..

Anyway, might be worth a look if you want to try to get the best of both worlds. 

So if the house is worth 300k and you owe 200k then most you could pull out would be 40k (minus costs) and it would be a second mortgage most likely which would be expensive. 7.5-9.5% likely.But, you can put as little as 15% down for a conventional loan on a single family.

Some are 6 months worth, some are 12 and states like Florida it's all outstanding dues. 

Period.It's well worth a few bucks to make thousands.....

Like @Lucas Carl, it's been a few years, but it was not worth my time.  

This is not worth the effort and risk of owning a duplex.

If you’re still sorting through your taxes, it might be worth running it by your accountant.