How you funding it?

If you are interested in figuring out a great strategy to best deploy your 1031 funds I would be happy to share more information with you.The most popular markets for our investors are Memphis, Little Rock, OK and TX! 

We are planning to hold it for 5 years and bought a rate cap to cover the entire hold period. 

I provided a free rent back for 2 weeks so the seller could get her funds and relocate.

@Jordan Miller most Class A & B rental properties bought since 2021 really don't cashflow from day one.Class B will take 1-3 years to start showing cashflow.Class A, 3-5 years.Current investors keep making the mistake of looking back at deals from 5-10 years ago when prices & interest rates were both a lot lower, but NOT rental rates.

There are quite a number of things that can make utilizing an FHA loan more difficult such as more barriers during appraisal, appearance of low qualification/little cash, typically longer closing period, likely higher interest rate, and PMI cannot be dropped without a refinance if 3.5% down.That said, just chain 5% down conventional loans, and make sure your duplexes pay for themselves.  

We only get a statement from the management company about the rate.

It may be that a conventional loan product is better to start, but i just have to factor in the longer runway to getting funded (e.g., underwriting, etc.)Let me know if there's a better way to think about this.

Also - there are some other ways to gather funds to purchase more properties.

Do you look up competitor rates?