Downside, on a major street.

To many downsides, not enough upsides.Thanks everyone!

i'm with alan.there is a downside of paying retail with no money down, but if you can get it at a discount, that's another story...

(raises your score by 35%) By adding another $25-$60k in available credit you offset his utilization rate (raises your score by 30%) and in turn will boost his credit to well over a 740The only down side to this option is that you will have to wait about 30 days for the accounts to post.

any downsides you see doing it this way?

Make sure to read their agreements, and as you said, if it's a good fit for you (which it was for us), I don't see any downside.  

If lightning struck twice (I think I got very lucky), I would own two duplexes and be adding $1500-1800 a month to my cash flow.Any downside to the IRRRL at this time?

That land can't be developed anyway so I doubt there's a downside to doing that. 

Also, if you are time rich and money poor, you can build a lot of sweat equity by doing the management or working on your directly owned properties and generate a higher return The downside is that of course all of that takes work and effort.

If you are willing to riskier and assume some of the upside or downside, then you could restructure and get creative.