I have already been told by my lender that I would be allowed to rent it out since it will have been one year of residing here and I am leaving the area. 

Bringing both units to the projected market rents in area still leaves me in the red.

My agent found me a full duplex that has had the interior completely renovated for $350k, the larger side has a 1 year lease for $1,450 a month which would leave me paying $860 a month for my side if I don't rent out the other bedroom.

I am wanting to leave the area as I can not afford a life I enjoy here. 

Having said that, I knew I am not effectively deploying my available resources so far by keeping debt free and leaving all my home equity 100% idle. 

Their lease would not start until mid month leaving me with a two week vacancy. 

Just leave really clear instructions on head use!

Come 2007, I was ready to leave AZ and the home in the "sleepy" Chandler area had appreciated 40% in value which I happily sold and took profits on. 

What Are the Top Three Reasons Tenants Leave Your Property?

So, financing would have to be a commercial loan at higher interest rates and higher down payment expectations.Most investors will want to at least leave open the options of using lower down payment scenarios with FHA and Fannie Mae and Va loans where applicable.