When you're about half way towards saving enough for a down payment, reach out to a lender to have them assist you with getting your ducks in a row.  

I am really interested in the house hacking method, however, there doesn't seem to be a lot of options in my area for multifamily properties (especially duplexes, which is my target).

I have seen a lot of posts on BP Forum regarding transferring a rental property from your personal name to an LLC and have searched the forums in the past trying to gather information. I haven't run across a post with...

An interest rate cap is essentially an insurance policy on a floating interest rate loan.This caps/limits the maximum interest expense exposure for a borrower using a floating-rate loan.Lenders also benefit as they can require an interest rate cap at a rate threshold that helps ensure the borrower can service interest payments comfortably, limiting the risk of non-payment in a rising interest rate environment.Floating interest rate debt has 2 components:✔️ Benchmark Index✔️ SpreadBenchmark Index + Spread = Total Interest RateThe interest rate cap will set a maximum threshold for the index used.Let me know what questions you have about interest rate caps below!

This HELOC would cover both down payment and rehab costs, if needed.

I went slowly, methodically, and haven't lost one penny.

With the standard disclaimers about tax advice and how everything depends on your goals: If you have a high income, when you cashout refi you may also able to take the interest payments as a write off, which may make your effective interest rate lower than it would seem. 

I heard about the LLC method a few years ago (forgot it) I don't believe that's a good method for me either.

I've heard Lland can serve as a down payment for new construction.

@Jack Saunders - @Randy Rodenhouse Touched on some really good methods for off market acquistions.