Buying an owner occupied property every year

[Alex Silang]

I've owned rentals for three years but I'm putting this in the newbie forum just because it's seems kind of grandiose to me. 

I want to buy a duplex every year. 5-10% down. These go for roughly $150k in my city. Good cashflow at $900 each side (should be enough to cover PMI and other expenses).

My thinking is that I'll use the good RTV in the city to cover my "carry costs" and then make my money back with appreciation + principal paydown. 

What do you think of this idea?