And while I agree that debt is often the cheapest form of capital, if you are looking at a project that involves some form of value-add business plan, you can always refi either when rates come down or you have increased the yield on the asset to exceed your interest rate.But like Stuart noted, for many groups, even the most seasoned syndicators, raising call cash for their deals is effectively impossible.  

Working with AvantStay caused me large ongoing financial losses.I signed on with them to manage two of my properties in vacation markets.

Wealth Destruction : Luxury properties contain luxury assets.

They should be able to teach you about asset risk, neighborhood risk, lay out A, B, C and D class areas, have stats on delinquency trends, vacancy trends, and other variable cost projections. 

Prioritize your financial stability.

Consult with a qualified tax advisor who understands these limitations and can help develop a comprehensive strategy aligned with your specific situation.Remember: The best tax planning looks beyond immediate deductions to your complete financial picture.

You hit the nail on the head...that's where the SFH to Duplex conversion gets financially unrealistic.

A true recipe for financial disaster.

Quote from @Michael Smythe: @Jerry NoguerasRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Alternative Lenders – Look for private lenders or debt funds that focus on asset-based lending rather than borrower experience.