Purchase price: $300,000 Cash invested: $31,0002/1 X 2 duplex with new roof, newer AC's and new water Heaters in really good shape.

You are talking about a new water service line upgrade right?

If you don't know how deep the water is, you may get more than just your "feet wet".Third Lesson.Cheap and discount are not the same thing. 

I understand there are other factors such as pitch etc. but i am trying to get ballpark range. 

Also, the water could have entered from other areas and traveled along a beam and exited the kitchen ceiling.

Depending on the price range we generally offer $2,500 towards cost/buydowns for a preferred builder partners but our partners generally match that if not greater than. 

It seems there are a few other parts of Jacksonville with similar budget range and that could be viable, anything near the beach is definitely out of the question with my budget. 

If you buy a high cash flow property in Cleveland, over 5-10 years you will most likely break even on the cash flow or just be treading water.

Given your residency limits, the high prices in NYC and surrounding areas are a challenge, but there are still options in neighborhoods further out within your allowed range, like parts of Queens, Brooklyn, and the Bronx.

Then perhaps you could invest in something else until the single-family rental market is back to an affordable range, and in the meantime, you could also make a lot more money.