Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

This means that I should set aside a significantly higher percent of my money for these compared to what i'm paying for a down payment.

Feel free to message me anytime and we can compare notes as we both investigate & learn.Chris

and have strong partners on the ground.

Of course, Hard Money is higher but hopefully there is a win/win compared with the slow pace of Banks.

Comparable rentals that come on the market in my area are rarely active for more than a day.  

Your bank will do their own appraisal (and since this is a duplex, the appraisal will be based upon comparable sales) and then offer you the HELOC based upon the results of this.

I have a local realtor on the ground now and he drove by today to a dirt lot with maybe footers he can’t tell.

It was crazy to think when comparing the risks, how less risky a duplex was vs the 10 unit (huge old building/a lot of operating expenses)The prior 3 years only grossed $75 k on avg which would mean we would lose in first year if it did those numbers.  

I’ll still be building equity with the help of a tenant, I’ll have my foot in the door and I’ll be saving 480/mo compared to my current circumstance.