You would actually be borrowing less money than originally but at a higher rate.   

Price RangeDefine your financial boundaries based on available capital and borrowing ability:For Class A & B, financing typically covers 75%-80% of the purchase price, allowing you to buy properties in the $6M-$12M range if you have $2.3M total cash.For Class C & D, due to higher risk, the price range might be reduced to $5M-$10M with the same cash.5.

It depends. all you talked about was the property but financing is more about the borrower, their experience, their credit, the cash available etc.

Even if they do, they also may not let you borrow enough to purchase and renovate a property.

Hey @Brad Roche - We do a significant amount of renovation loans (both Fannie May & FHA) here in Chicago and prefer the Homestyle loan only because it's less stringent on the borrow about what they have to repair, and they provide the general contractor a material draw at closing which helps the project start on the right foot.I thought the minimum down payment was 5%.

Have you borrowed any money for the duplex or do you have an investor?

what you're proposing is, again, borrowing 100%.

With your $1,100 rent and the potential for an improved loan structure, it's worth reaching out to DSCR lenders who are flexible on reserves and leverage.Key Points:Highlight your strong FICO score and existing equity.If your DSCR ratio falls short, some lenders allow exceptions for high-FICO borrowers.

Borrowed money from friends and family to pay cash for the property as the bank would not finance it until it had been remodeled, made livable, and brought up to code.

I found ways to borrow the cash and did 5 cash out refis within 7 years to recycle the equity to scale up.