However, since both units are rented this would be classified as an investment property in which case your rate will probably be 4.00% to 4.250% on a 30yr fixed depending on FICO credit score.The maximum loan to value for a cash-out transaction (investment property, duplex) is 70%.Based on the information you've provided it doesn't appear the value is high enough for the property to be eligible for a cash-out transaction but you can still remove PMI.If you want to send me a PM I can run a complete analysis to see if removing the PMI will offset the slightly higher interest rate.I'm also licensed in CA so if you're looking to purchase a property I can help with that transaction as well.

As long as u can put it on a credit card, I'd never worry about it.  

Regardless anything less than 2M +/- is left to be the domain of local banks and credit unions.  

@Andy Schwaderer - how did you find this apt building and any tips on convincing the seller to carry?

Any tips on handling the tenant, the security deposit, and the current management company?

I have 750+ credit score and no debts.

In 10 years it's going to be as any regular house aswell and it needs to support that I feel like.Any creative tips on how I could make a deal like this work?

L.I write about No Bank No Credit financing.If you want to play in the sandbox of no money no credit, you need:Private Lenders (knowledge of self directed IRAs)JV Partners (splitting profits w cash partners)Creative Financing (sub2, land contracts, installment sales, TIC contracts, using notes, etc)I used to live in Mt Kisco, Westchester.I get what you are trying to do.Good luck!

Then you can put it in LLC to protect you against tenant lawsuits, and the seller's loan is protected because you are personally guaranteeing it.One more tip.

They charged $39 for the measure that was credited towards the install.