While it will not reduce the actual cost it will help with the monthly cash flow.I am curious if this was a single-family house converted into a double.

My suggestion if your goal is to free up some equity to use for another purchase - start small with the single family home with a cash out refinance.

This is for a 3 bed/2 bath single family rental home.All input would be appreciated! 

According to the Planning Board, the intent of the RM-2 Zone is to create, maintain, and enhance residential areas characterized by a mix of single family homes, duplexes, townhouses, small multi-unit buildings, and neighborhood businesses where appropriate.I'm assuming by definition I am zoned to convert to a triplex?

We lost about $100,000, which we had borrowed from family.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

I come from a family of Marines.

We bought a single family up here last year and converted a garage to an ADU, which rented out really quickly to a great young couple.

Quote from @Steven Mendoza: Hello BiggerPockets family!

My wife and I have a vacant lot in Tallahassee and we're looking to use the current equity to exchange for a larger single family investment property.