Gentrification: Multi-family - A good idea in a booming area?

[Jason Harmon]

Looking to do my entryway into first time homeownership in Austin texas (High entryway market) by house hacking a duplex in what seems to be a pretty low income perhaps ghettoish neighborhood.

The thing is, it's a duplex neighborhood of like about 25 to 50 units. What if I was to move in and fix up my unit... Then, buy more of them. Until I just buy out the entire neighborhood while living there for 3-7 years and just sit and do my own Gentrification of the neighborhood?

it's near a few huge new factories and upcoming revenue streams and many new workers will be moving in in the next 12 months. Avg pay of workers $65k

Is this a good idea? 

[Bryan Noth]

@Jason Harmon I have actually seen that strategy work.  I had a colleague who literally bought an entire street in San Antonio and rehabbed every one of them.  For clarity, it was a small street but it was a rapidly gentrifying area and that helped force growth there.  For 25+ units, I would check tax records to see if there are multiple owned by a single entity or person.  If they are all separately owned it could be a lot work chasing down sellers for that inventory.  Also, consider the area.  There are some pockets where rehabbing the entire street would not do much because surrounding units or streets could keep the potential down, even in Austin.