of course my goal is to structure it as an investment.  

I haven't heard of that regulation, but that's not to say it doesn't exist.

It is zoned for SR7, a single-family home, but is being sold as a multifamily home since the property was converted into 2- two entrances, 2bed/1bath per unit, separately metered electric.

I’ve looked on the county’s property tax inquiry, it’s listed the 2020-2023 property tax years as “property taxes sold”.

It’s priced competitively using area comps (even slightly lower), it shows well, and we even allow dogs (no cats). 

It was a self-storage property in a small town in Central Illinois with a recently underway residential development adjacent to the property, so lot's of upside.

Last appraisal we got was $560k (*the reason the appraiser said it was so low was because there weren't enough similar houses sold to really base my home price off of).Upstairs is a duplex 4b, 2baBasement is 1b, 1baShared laundry roomMy wife and I live in the basement and tenants live above us. 

Do you know where I can find information on the class of a particular neighborhood in the twin cities?

My question is, if we take a cash out refinance from one property and pay off a second property; by virtue of interest tracing rules is the interest deductible on the second property.The reason I want to do this is because it improves on the title/closing costs for the one property while still leveraging the highest value property.

It contains hundreds of files such as ebooks, checklists and spreadsheets for real estate investors: https://www.biggerpockets.com/filesGood luck.