I too am someone new to this business and hopefully leaving my full time job one day to pursue investing only.Good luck on your duplex and many more!

I know in Orlando in most areas that don't allow air bnb, will allow you to have an air bnb as long as you live in one side of it while having it as an air bnb. 

Whether the lender allows it will depend on the ratio required.

It seemed like the most logical way to get into real estate, and my partner was more experienced in business than I was at the time so it was a no-brainer.

Something I am currently interested as well.4BR/3BA SFH (possibly smaller if the numbers make sense)Between Kissimmee & Lake Nona area (not something like pine hills)30-45 minutes to Disney & tourist areaNo HOA or low HOAMust allow a short term rental (open to long term rental if the numbers make sense)Last property I was interested in, I found out that it only allowed 7 month leases for rentals.

But I would suggest this whole business could fall into that category that we might get conflicting advice, some not good.

Keeping your payment in the range of rents (allowing for expenses a homeowner will pay and a tenant doesn't) tends to keep owner-occupants on track.Your attorney or an attorney-owned title company can create the docs and manage the closing.

But if you took a HELOC, which tends to have relatively high interest rates, your blended rate (the average of what you're paying on your mortgage plus the rate on the HELOC) would likely be in the same range as today's mortgage rate.You'd also only be renting out one unit, but by selling it might allow you to get more than one additional unit and still grow your portfolio. 

If the existing mortgage holder (the note being assumed) will allow subordinate financing or a second lien position, it's possible to borrow part of the down payment difference and close both loans at closing.

I've seen some comments state that it's all about the kitchen - only a small kitchenette with no stove is allowed (which would be perfectly fine).