Especially if you are going to need some capital for renovations, I would put down less initially.

I would be willing to partner, however I have not had the opportunity to do so at this point.My question is for anyone who has insight, or has been through the experience of making the decision whether to move from a small family practice, to a larger more reputable firm?

They do not want to be limited to a cost they give you and then the scope changes or gets larger or more complex.

Price it as a duplex and budget for the conversion (including any downtime for renovations).

Physician neighbor is caddy-corner and paid $190 for a larger house last year.The town is working hard to gentrify, but speculation can be risky. 

Most septic systems supporting a single home are sized one at a time unless planned as part of a larger community.Between the land development, utility costs and bringing in a home it can be a good cash burn, so make sure you have it all spec'd out.

This is a program where 1st time home-buyers who make at or under a certain % of the area median income (say 80% or less for example) qualify to apply for the grant, certain banks receive grant funds so you would need to ask your bank if they participate in this programRehab costs: $40,000 (lot of sweat-equity)Appraised: $385,000NEW PITI $1785/month: Refinanced into a loan of $260,000 ($325,000 with 20% down, 30 year fixed rate portfolio loan @ 4.375%) and pulled out $61,000 ($260,000 minus $191,00 owed on old loan minus $8000 closing costs) I could have taken out a higher loan (due to the appraised value) and received more cash-out $, but I wanted to be conscious of what my new PITI would be and make sure I could cash-flow going down the road.DetailsBefore Renovation- 864 sq ft - 3 bed 1 bath ranch style home, , attached 2 car garage, 1/3 acre yard- Purchased foreclosed for $220,000 with a 30 year fixed rate loan @ 3.875% - PITI $1385/monthI worked with my local bank to build in renovation funds into the actual loan, where I would pay to have work done to improve the property (new roof, heating system, flooring, etc) and the bank would inspect the work then release funds to me to reimburse for the cost of each repair as they were madeAfter Renovation- 1278 sq ft (finished basement added 415 sq ft)- 3 bed 2 full baths- Appraised Value $385,000The first 6 months in the property was spent doing new roof, heating system, refinishing existing hardwoods (hidden under grey shag rug), new SS appliances, new paint inside and out, finished basement (added another living room, office/bedroom, and full bathroom)For the refinanceI was quoted by my local bank for a 30 year loan a 4.875% interest rate. 

Our goal is to purchase, renovate, and then lease out.

Depending on your approval, you can use some of the duplex income to qualify for a larger amount to buy the duplex and there are several that show up between the 500 and 1 million mark all around Denver. 

I recently bought a small 2 bedroom unit that was already tenanted. It is in need of quite a bit of cosmetic work inside, but I don't want to do the work around the tenant, and I don't want to lose him, he is very goo...