The property has 100% equity on the property but I don't really see to much profit margin for the seller, me, and the buyer.

I started looking into Denver 🤔 @Gilberto Ramirez III- thanks for the feedback ....if you need to use a loan to purchase and  if you havent already  been pre  approved  recently - I recommend getting the pre approval in place BEFORE  spending a lot of time actually looking for  properties 

The loan programs for 1-4 units have more favorable terms depending on if you're buying with income with a conventional investment property loan or having the loan underwritten by the rents with a DSCR / rental property loan. 5-8 loans generally have tougher underwriting and the rates are higher if you're looking at DSCR loan options for 5-8 units. 

Typically, people will quit claim deed the property over into the LLC's name knowing that they run the VERY small risk that the lender could call the loan due using the due-on-sale clause.

If you guys could help breakdown the fees involved with the hard money loan, and the refi with the bank, that would help tremendously 🤟🏼

If HELOC on an investment property is not an option, is there another way to pull the equity for that property to buy another investment property? 

I've heard that some mortgage types aren't eligible for subto, such as VA loans. 

With this being our first one, I am wondering about prequalifying for a loan.

You can typically get an investment property loan for these putting down 20-25% with a duplex cost of $400-450k. 

Honestly in this market breaking even is not a horrible thing, especially if you're looking to hold the property long term and it's a market that has seen reliable equity growth