Realtors often put a lot of time and effort into their job, which is why the exclusive signing indicates your commitment to compensating them as they get to you finding a property, getting into contract, and officially closing. 

A little history on my investment real estate journey if we can call it that….Back in 2005 my wife and I bought our very first home when we were 24/25, 3 Bed, 1 ½ bath 1500 sqft single family home for $167,000.

@Kyle Carter, The strategy you're looking at would be what is called a "consolidation exchange". followed by a conversion to your primary residence. 

So, you say will I want to take some cash out using the 200k value but most programs will require you to wait some period of time from 3 months up to 12 months for conventional before you can use that 200k value to pull cash out.This seasoning does NOT apply to delayed financing as I mentioned in my post above.  

Remember investors also make money so if people are smart enough to get OPM then good for them.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

So probably, but I do not want anyone to think it was not a lot of work.  

MACU and America First could be good places to call.

If you’re set on a duplex with minimal rehab, an investor focused agent should have a strong network of contractors who can give you quick quotes, so you don’t wind up with any pricey surprises.

So you wouldn’t get any depreciation on your new purchase assuming you only spent the $450k.