My 14 year old is the one who has the most desire to do this thing and is also a little reserved, so your advice would be especially vital for him.

Other tenants can reduce the desirability of a duplex.  

Have had a strong desire to invest for many years and looking to network with like minded people. 

@Derek DaunHey Derek, no one can give you an exact answer, because the answer would require knowing what company and what hard money lender you are considering.Companies in the business of lending or individuals in the business of lending will create an offering package that can be desirable in one regard, while being less than desirable in other regards.

In all honesty, their well does not bother me; however, someday, when I get a property I desire more, I intend to sell these lots on contracts and want the option to make sure this well doesn't become an issue.Long story short: I am looking for an example of a simple license agreement I might implement with my new neighbors for them to keep their well on my property.Thank You!

I understand that is a less desirable part. 

However, I would be very cautious when trying to invest out of state for cash flow--particularly in less than desirable neighborhoods.  

Suggestions and ideas not only accepted but greatly desired.  

Very desirable place to liveI have about 10k saved up in savingsWhat are my options?

The other Triangle area people are correct in their assessment that what little duplex inventory there is, it is typically very old, not well maintained and in the less desirable parts of town.