I would imagine that means you are going to be doing all of the work yourself?

I imagine the "I want to $$buy$$ your house!"

@Sarah Grise Since you posted this in the creative finance forum I would imagine you're interested in trying something other than conventional loans (although the advice you've already received is excellent).For me it's all about owner financing.

Wish I could give you some advice on area rentals, but I'm up north and imagine the market is quite different. 

I had leveraged properties six years ago too and I did not pay any such hefty price you imagine. 

Most of you are at least somewhat familiar with the BP podcasts I imagine and, like me, have noticed a pattern in one of the answers to a question at the end of the shows.

I can't imagine it would be easy to find tenants who would want an 11 or 11.5 month lease, unless you are near a university.Also, accept the fact that some furnishings will wear out or get broken.

Once that 3rd unit is finished I imagine the triplex would be worth at least $160,000?  

I imagine like Georgia, great schools drive real estate in your area.  

I imagine that you might have lender who wants to pay off the LOC, but doing so would be kind of silly, as you could immediately turn around and draw on it again.