Using simple and easy numbers lets say $20k in 2012, $40k in 2013 and $80k in 2014.Using these numbers my current averaged income would show $30k, but if I waited it would show $60k.First, are there any other factors involved with "Temporary Employment"?

Once you have that then you factor in a vacancy rate (most use 8%-10%) to discount your gross rent. 

You find the average cost per square foot of those properties, multiply it by the square foot of the subject property, then add/subtract for condition and other factors. 

With an assumption of $2,500 in rent (based on Rent-o-meter), 5% vacancy factor, $5,500 / year property taxes, $750 / year insurance, 12% maintenance and CAPEX reserve, and self managed you are looking at about $2,000 / year cash flow if financed at 80% LTV, 4.5% interest rate, 30-year fixed.

We're looking at a lot of factors; especially for a first duplex.

However, I don't feel like the numbers work well for buy and hold because when the 50% expense rule is factored in with Austin's HIGH tax rate, my evaluations never cash flow more than $50 unless I offer a similar F&F lowball offer.

Let me know your thoughts.Maintenance including gardener: -$1502Taxes: -$2405.77Insurance: -$723.00 Mortgage: -$12,156Vacancy factored in for one month out of the 12:-$1850.00Gross Income:$22,200NOI Annually:$3,563.23NOI Monthly:$296.94

I would also definitely recommend factoring in closing costs.Of course, a 12% cash return is better than you could get in the stock market, but considering the added risks of real estate, it wouldn't be enough for me personally to do the deal.I hope this helps you think it through,Chris

Set yourself up so that cash isn't the driving factor and then more options will be available that could turn an okay deal into a great deal.

This is a very broad overview however and there are a ton of other factors in play.