Quote from @Collin Hays: Quote from @Chris Watson: Just a few additional details to accompany the fuzzy math data. 

That was my wake-up call to how much insurance can make or break the math on these projects.Now on the brokerage side, I work with investors and developers trying to navigate the same thing — especially those building large, multi-story, wood-framed assets.

Numbers and math tell all.

Just make sure to do your homework on the neighborhoods.

As of right now, the way the math boils down with conservative estimates based on current cash flow on the 2 duplexes and my income, $7-8k per month would be put back into paying off the heloc once the amount of units that I'd like to be at is hit.

You have to go beyond the price of the property, look at the neighborhoods. what looks like it will be good good income on paper will actually be a money pit. a $30k house is bound to be in bad shape in a bad neighborhood.Being long distance means doing your homework is just that much more important. 

I operate on facts, math and certainty.  

You're like  Ok Ken, let's try mathing it out. 

Most landlords struggle early on, but if you stick with it and use tax tools like the 1031 exchange, the long-term payoff is real.Glad you’re doing your homework.

There are loan programs that will do a DSCR loan with no seasoning if the DSCR ratio is 1.15 or above (so for easy math, $1,150 of rent to $1,000 of expenses (expenses for 1-4 units is the mortgage, property taxes and insurance (and HOA if applicable)).