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Sounds good, but I just don't like the idea of a HELOC. The floating rate part. That can bite you in the ass if interest rate sky rockets. If you ever got in trouble, will you be able to dump the duplex without getting hurt too much? Keep in mind that a duplex is a harder sell then a single family home. Will you be ably to get a convention loan to buy this duplex? I would rather go that route.
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