Closing on the duplex first and then finding a single-family rental works well. 

I am a small out of state investor with a few single family rentals in Cleveland suburbs.

The last Liability only policy we did was 7 Single family rentals in FL, $1M of coverage for $1,700 per year. 

Having a backup plan, such as a HELOC or alternative financing options, could provide added flexibility.With loans spread across 19 single-family homes, consolidating into a portfolio loan might simplify management and offer greater long-term stability.

Hey Henry, my main market is Augusta, GA focusing on small multi-family with midterm/short term rental strategies. 

I'm looking to start off my career renting single family homes in the Baltimore, Maryland area. 

I was playing with the idea of selling my condo, taking 300k of the equity to put a down payment towards a house listed at 660k.I'm assuming the reno will run $300/sqft and going in with the assumption that phase 1 will run 750k (figure the expansion of the house will have to wait) for the gut reno.I assume/hope (but definitely not banking on) that I will be able to refi in 2-3 years at a lower interest rate; if not for a lower rate.This will likely be a family home for the next 5-10 years at LEAST so investment value isn't quite at top of mind ATM.Questions:Even if it's not for lower interest rate, do you feel it's advisable to refi to remove the 203 loan in the future?

Investment Info:Single-family residence buy & hold investment.

To clarify my previous post: 80% LTV is available on single family homes, 75% LTV is available for 2-4 units. 

He's in Austin so a little ways away from you, but he probably has a good referral for a builder in Dallas who could take on a multi-family build.