We have 1 natural gas furnace heating an O/U duplex.  

I don't think you could be faulted for a countertop microwave, it is what they need functionally and it is a no pressure solution for you.

You need a no-cost pre-analysis of your property FIRST and then, sit down with your tax pro and decide how it is going to fit your tax situation.

Swinging a lot of debt is not for the faint of heart and your plan will do the same thing in the same amount of time as someone using a no money down plan.

BUT it's a no-brainer investment when you compare it to the money you can make in your first deal.

It was a no brainer loan but they had their guidelines.I went to a small local bank and they didnt ever request pay stubs.

If your subject to the 5-10 property's requirements you'll need Min 6 months reserves,  min 720 fico, max ltv's are 5% lower, and only purchase or rate term refi no cash out unless it's delayed financing exception.Your wife seasoning the property would allow her to cash out to 75% of market after 12 months assuming she has 1-4 financed properties if she has 5-10 that's a no go.

I've asked the city about subdividing into to lots and they said its a no go.

It's a no-brainer to get into a house-hack; the program reduces some of the closing costs and is not a loan and does not have interest.  

I - InfrastructureM - Marketing O - Other Revenue streams.This may seem like a no-brainer but most people I talk to fall short in almost every category.The I.M.O approach starts with having the correct infrastructure.