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We are in the process of purchasing a three family brownstone that needs a major renovation. We were planning to re-configure the house into two duplexes – an owners duplex on the ground and parlor and a rental duplex upstairs. I’m wondering, is this a wise idea?

Would it be cheaper to just keep it a three family and do an owners duplex with two floor-through apartments upstairs? Any ideas on the cost difference for taxes and mortgage? Are there other ares that we should consider?

Thanks again for the advice!