I have a heloc on my personal home for 200,000 but ive only used 16,000 of it.

My wife has a house with a small mortgage left on it and long story short...one of her kids is the other "owner" of the property.  

Hey India if you use HML do you plan on refinancing?

I was just quoted 8% on my heloc, if that helps you at all with getting an idea on interest rates.  

Never built in Houston before so take my feedback with a grain of salt but I'd put money on it being impossible to build a duplex from scratch for $125 a foot (including everything from drawings, engineering, permit fees, general conditions, labor, material, landscaping).Out here in AZ the builder cost is going to be $200 a foot at best, but add 20% on top of that for the client cost.

First off, congratulations on taking the first step into wholesaling!

When buildings like this do come up, it's usually placed on the MLS, but you're gonna need to keep an eye on the market for long stretches of time.

Knock on wood, but I haven't had to try to evict anybody yet

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Due-on-Sale Clause If transfer taxes are not a concern, the next consideration is the due-on-sale clause, which could lead to loan acceleration.