I just purchased a condo and I bank financed it as a "second" home. 

Oh, I see you own a single duplex  you bought recently...you have no experience with actual apartment investing AT ALL which is why you don't know that your suggestion doesn't work anywhere in the country....Sigh, when you own only a single duplex in small town IA, then talk down to experienced millionaire investors who actually know what they are doing....then get schooled.Go ahead and find an apartment complex that allows you to review tenants information and walk through units before you are mutual.

It is pretty pricey for a duplex.  

Yes, I’ve researched duplexes and triplexes in several DFW cities. 

I'm thinking not as I purchased my home 5 years ago for 63K and other units within my condo community haven't sold for more than 90K (ish) in the past 5 years while most do not go for more than 85K.  

My wife and I purchased a 500k duplex.

Now I'm looking at a duplex that I want to get a conventional loan on but make it my investment property.

I have an opportunity to purchase this property, and tear it down to construct a 4 or 5 level condo type building (which is what is being done by the local developers in this area).

I am interested in duplexes/triplexes, and multifamily properties. 

Good Morning BP,I want to do a cash out refi on a condo that I own outright in Clearwater Beach Florida.