Is a 250,000 duplex worth it for my first investment?

[Account Closed]

I've ready several books for the past few months and I think I know enough to at least be able to push through with my first duplex this year. I will be using a VA Loan so me and my wife will have to live next door. From what I've read here in BP, it looks like most investors start out with distressed properties they can buy for 30,000-50,000. Since I'll be using a VA Loan, buying a distressed property is already out of the equation.

My question is, however, is it a smart move to buy my first rental at the 200,000-300,000 range? Provided that I'm looking at 3br multi-family properties in good neighborhoods.

[Tom Meade]

Really need more details. I have a two-family under contract right now for $230k, it's gutted to the studs and needs about $150k rehab. ARV somewhere north of $475k and the rents will be around $1800 per unit.

Gotta love RE investing in greater Boston!