If you are certain that the appraiser has it wrong, float the numbers out to a few commercial lenders and have them give you a first pass underwriting.

I don't really think id want to go the commercial loan route with a floating rate because i am of the mindset that rates are going to be higher in say 5-7 yrs from now and want to lock in cash-flowing properties for the long term.if i were to do an LOC and say use that money for 6 months can i go back and do a refi on the duplex then to pay that debt off?

I know that he and his brother are on the BP site, in fact I read a blog written by his brother today, plus I have seen ad banners for Kent Clothier products from time to time.

At that point if there is an oil tank its usually floating around and leaking oil.  

Couple of items:1 - If the market turns, rates will generally decline2 - Many commercial investors structure their financing to match their strategy and exit prior to maturity3 - There are fixed loan terms of 10, 12, 15+ years and some without balloon payments (i.e. they float after the fixed period).  

If you haven't added in the expenses, and you do so now, then the deal probably won't work at the current offering price.I would see at what price the building cash flows at a level that makes sense to you and your business plan metric (i.e $100 - 200 per door. 10% ROI etc.) and float that price by the owner.

Also coming out of a sales job, I had plenty of savings to float the properties in a bad situation and continue to live if I wanted.This time away from a 9-5 just gave me a taste of what REI can do for the everyday person and I can't wait until I'm really free of the rat race!

Now with 1 or 2 months of rent in hand, and save up any cash flow to help you float. 

Assuming it is all concrete, do I need a vapor barrier **AND** underlayment beneath a floating engineered hardwood floor?

Please spend some time tootling around the site and checking out the various features, there is a ton of knowledge floating around here.I work real estate here in Austin, so I hope to see you around at some events in the near future.