Since your friend covers utilities, this offsets some of your cost.

Hello @Michael Dallas,To verify the seller’s information, ensure you request these essential documents:Rent Roll (to confirm rental income and occupancy)Lease Agreements (to review tenant terms)Financial Statements (past 1-2 years, including income and expenses)Property Tax StatementsUtility Bills (if applicable)Maintenance Records and recent CAPEX reportsInsurance Policy DetailsInspection Reports (any recent or previous reports)These will help you confirm the property’s income, expenses, and condition.

Your best bet at this point is to get together with an architect and see what your options are.

I plan to sell and 1031 exchange this property in the next 12-18 months.

Quote from @Zach Edelman: Why is this better than just paying off your entire balance before the statement closing date?

I am trying to do this the right way, so with this post I inquire for advice on getting started.

Ok @Marc Shin this is such a loaded question!

This would be our second duplex house hack, and while it's been a great investment, the neighbor our current duplex is located in is not the worst, but not the greatest either, especially when it comes to school district.

This is assuming you passed the 750 hour rule and the 50% rule to qualify as a REPS

Hi Elimar, glad to have you as a part of this awesome community!