they told me "never sell a property unless you have to to get into a bigger, better property" i would guess that the tax laws are similiar in the UK.anyways...

He thinks he can do both floors for under 10k and maybe another 10k to to add the kitchens and bathrooms.

I think newbies have the idea that you need to to do it all yourself to make money.

in my experience so far I have been using conventional loans and my debt to to income ratio is fine.

I had to finance because I am still trying to to save up money with an FHA loan.

@Dom Lombardo,@Chaz ReidAlso, what methodology are you using to to get your comps?

Your friend should make sure his estate is in order so the home doesn't to to probate court if he passes.Does the company you work for have any housing needs? 

I'd get an inspector to come and check it out head to toe.

Unless you see marketing as taking the most successful real estate investor you have access to,  to lunch and market yourself to him.... money well spent.

Your mortgage payment may be really low (which may be all you're looking to get out of this transaction) but your actual cash on cash return would be really terrible.If I were you (and looking to to maximize my investment potential) I would still consider selling and buying into the duplex but not putting nearly as much down.