Lots of out of state investors look to the larger metro areas but over look the small towns a half hour or 40 minuets out.

So that becomes part of your realized profit.

So I have been doing some serious debating for a while now on whether to sell one of my very good cash flowing 4 bedroom 4 bathroom single family rentals in the hot, in my opinion overpriced, Madison, Wi area for a large profit and reinvest the profit into a larger property or to hold onto it and keep the cash flow coming in.

This would be a pretty good product if you had no other options.2 units on property - Is one unit larger than the other? 

Take away buying costs of 5pct plus title insurance etc (about 6-7k)Take away holding costs of 3kTake away selling costs of 11kTake away minimum profit of 15kMax offer 93kProperty is in a great neighborhood and LOOKS like its a paint/carpet rehab from the pics However, roof is 20 years old, ac condenser is 20 years old.  

Personally, I found @Joshua Andrews' book Paper Profits to be a really good introduction.

My Broker being the mad man he is, used my deal to bully the seller into giving my friends a good deal, so now we own the better part of a block.Right now I'm sitting on my property until the urban renewal project on my end of town brings up the property values a bit and hopefully I'll make a good profit and maybe find an investor interested in a a couple of duplexes when I go to make my next move. 

Now the house sits for three months and now Im covering the mortgage (at 143,000 for a VA mortgage your propably sitting $800 with taxes) which equates to $2400 leaving me with zero profit.

As with businesses, don't expect to profit right off the bat.

I work full time at a non-profit for at-risk inner city teens.