Owning a duplex at 20 is a huge accomplishment, and it’s inspiring to see you’re already planning your next move.From my perspective, real estate investing is a long-term game focused on building equity, paying down debt, and maintaining stability over chasing short-term cash flow.

If it's worth $1.3 million today, it will be worth $3 million or more in 20 years, you'll have paid off the debt (or most of it), you'll earn at least $3 million in cash flow over those 20 years, and you'll have tax benefits.

Income from Rentals & Side Revenue Helps Future Pre-Approvals•Lenders will consider the rental income from your first home when calculating your debt-to-income ratio for the next purchase.

If you wanted to earn $200k to live on at a W2 job....you'd need to earn significantly more because you'd have to pay income taxes, and payroll taxes on the income; where as taking on debt isn't taxable at all. 

Start by getting pre-approved for a loan, ensuring your credit score, debt-to-income ratio, and finances meet lender requirements.

If not, these are liabilities and wouldn't advise adding debt.

It's debt you'd still have to pay back, but at least you will not touch one of those two amazing interest rates. 

Having a lease in place will help you as well - some lenders won't refi a vacant property.For your refi, you're usually looking at 75-80% max LTV with a debt service loan.

Eliminate debt, establish a budget, and save.

Plus new folks do a very poor job of screening the buyer for Ability To Repay (ATR) which involves pulling full doc and calculating the borrowers DTI, honest income, honest debt payments, prior debt payment histor (FICO) etc etc.Plus shockingly (or shocking to sellers) if you bought this investment house, fixed it, then are selling with financing you are selling "inventory" and y9ou owe taxes on the gain in the year of sale, you are NOT able to use installment sale to spread out paying taxes.