@Samuel Metcalf- thanks   1) I would recomend getting a HELOC in place on your primary residence duplex  for  as much as  possible...this should be available for  free or a low  cost and the rate will be variable in the  8-11%  range ...prime rate +  margin of  1-3% ) ...the min payment is in interest only payment on outstanding balance   2)  use the heloc for the  remodeling  costs ...pay it down as  agressively as you can   3) on the  purchase of the investmenet  1 unit -  you are  allowed to put as little as 15%  of the price for your down payment ...the pricing you get for the loan will improve  as your down payment  grows so you might look at  75% /  80%  and  85%  ltv  options 

Once you and the seller sign a contract, now you have the options to either keep the property yourself, do flip or long term hold, or assign it to someone else if you don't have the capital to flip the property.

When I explored this option in 2020 my lender said it wouldn't be possible because of occupancy issues (building was not fully occupied), and DSCR.

Estimated rental income about $3200Please weigh in your opinion on these options.

Hi Ruby,Many investors use their HELOC to acquire properties, so this could be a viable option.

I am not very knowledgable on the different loan options.

No loan options but Iv been really interested in modular multifamily and would love to know which company you are using and any other details your willing to share.I would love a modular triplex or quadplex here in the Asheville area.

Hit me up, and I can discuss the best options depending on the goal. 

Option 1&2 are obviously easiest/quickest.

I feel bad when people get sucked into sub-par turn key deals when there are much better options for investing in real estate more passively like investing in syndications or being a financial partner on smaller scale deals with another investor who wants to put in the work but needs the capital (I partner with people like this).