@Kerry Hermann - the posts by @Michael Ewers and @Samuel Coronado were solid advice (I don't know Nita Cook whom Sam referenced, so that's the only part of his post I can not comment on).I second what Michael said about the market here - it was fantastic from 2017 (when I started) through 2022 - then it really started to crater in 2023 (although we still found some deals), and the bottom completely dropped out in 2024 (found one small commercial deal and one residential flip deal in 2024 - that's it). 

Quote from @Christopher Lynch: This is a solid start for the capital partners willing to do the 100% fin and then 50% on the profits.

There are some solid Tax Pros and Cost Seg firms in this forum that maybe able to help. if you reach out. ...

When I was in your exact situation looking for help, they were the only ones that provided solid answers and walked my wife and I through the full transaction.

Sometimes lenders will go with a solid estimate based in reality as well.Otherwise, @John Underwood has the best idea.

You need to have a solid understanding of the business as a whole.

If you are able to hold onto the duplex, I would hire a solid property management company and hang on to it.

Starting with buy-and-hold single-family and multifamily properties is a great strategy, especially in a market like Cincinnati, which has solid rental demand and growth potential.

Most lenders are going to be limited to 70% of ARV ($560,000 total loan amount) but that means they could fund 85% or a bit higher of purchase price + rehab ($560,000/$645,000 = 86.8%), which is solid.

Over time, I’ve accumulated more cash reserves and don’t need as much flexibility, but I’m actually in the middle of a refinance right now using an interest-only mortgage—because the pricing with the lender and the corresponding ARM is more favorable than a comparable principal-and-interest loan.The key with these alternative or "exotic" mortgage types is that you need to be financially savvy and have a solid plan.