Duplex buying in texas

[Joe Cossio]

Hello, I was thinking about investing in a duplex in Arlington Texas, I heard if you live there on property, you have a lot of tax deductions. Is there a rule of thumb on the amount of cash on hand you need to make a purchase? or does it depend on the cost of property? 1st time posting 

[Jay Hurst]

Quote from @Joe Cossio:

Hello, I was thinking about investing in a duplex in Arlington Texas, I heard if you live there on property, you have a lot of tax deductions. Is there a rule of thumb on the amount of cash on hand you need to make a purchase? or does it depend on the cost of property? 1st time posting 

You can buy with a FHA loan for as little as 3.5% down, or for a conventional loan you would have to put down at least 15% both assuming you do live in the property. It can be a great way to defray the cost of ownership. It was how I got into real estate investing 20+ years ago before it was called house hacking! ha.