But what I've been seeing and hearing from other landlords is that sometimes in situations like these, the tenants find when they look around that rents have risen so much they simply can't find something in their price range for their needs (esp. when # of children dictate the # of bedrooms they need).So you may ask yourself, can you float the property if one of the tenants takes 6 months to get out and requires an eviction?

It may be different if you're an owner occupant, but if you're not able to fix up the duplex and only the mini house in the back is getting any sort of income, would you still be able to float?

I've seen the rents float around $400-$700/month, and the property prices are low.

My credit is floating around 750I have one multifamily property financed otherwise and commercial financing is new to meI have 50k to invest all in on my end.

Some thoughts floating around in my head.......I realize the market isn't going to stay hot forever so If I do keep it as a rental I would eventually flip the property in a year to a year and a half and sell somewhere in March or April.

Nothing, in particular, happens to your mortgages, but you will now have to pay:1) Your mortgage on your original home2) Your payment on your HELOC (can be either fixed or floating rate)3) Your mortgage on the second homeMany people run into liquidity issues if something happens (loss of a tenant, medical emergency, loss of job) and can't afford to pay all of these.  

Take whatever ideas you have floating around in your head and figure out why you're better at it than someone else and then fine tune it as needed.

The owner wants twice the appraised value for the property (approx 180k), but is willing to "float" the cash in the form of a personal loan against his other businesses and give us a year to start paying him.

Smaller developers cannot take those hits or float out the project until it is performing if the headwinds of the markets change.  

And it is much easier for you to sell requiring a floating closing date so you can bunch the two property sales as closely together as possible.A 1031 is an added on process and the intermediary's only role can be the 1031 function.