Are you confident it will?

Down payment will likely be 25% not 20% due to it being duplexesHow confident are you on the area and the rehab costs?

I am confident that there are multiple investors in your market that could use your computer background to their advantage.

You're pretty confident that 3 of the 4 major hotel/motels will have several feet or more of water on their ground level floor for the next few days. 

Therefore, when you start paying for marketing you can manage them better and have the confidence to convert at a high rate. 

Getting a second mortgage is great if you are confident that you can make the payments on time.Tax deductions, to this day, remain one of the single greatest benefits of real estate investing.A second mortgage lets you leverage equity, even in a rental property, and use that value now.Mortgages allow you to borrow to obtain property.

After a few months of being a landlord, I feel confident in expanding my business to a couple more properties. 

The numbers:Purchase Price: $118.5k Hard Money Rehab: 30kARV: 218kDown payment: 10% of purchase and 10% of rehabTotal Invested funds w/ closing: 24kHolding costs: 1700Hard Money payoff: 134kREFI Option:75% cash out refi of 220k= 165k loan, 30 yr fixed @ 6% and 2ptsPITI: $1500Gross Rental Income: $2600Monthly Cash flow after expenses: 750If I decide to sell I will need to spend 5800 to paint the exterior but based on comps I could confidently sell for 220-230k.

I think confidence, and trusting in yourself is key in this industry.

Shaun,How confident are you of the value of $349K?