In my market - new build duplexes dont cash flow well but are typically a great 5-10 year investment. 

The two are almost entirely different markets in terms of price points, returns, tenant quality, and overall investing strategy.

Based in Santa Monica, focused on out-of-state markets with strong growth.Not here for sales pitches, just real connections, real deals, and real conversations.

Look at their marketing strategy.

There is a single family home in front, and in back there is a guest house/loft above a garage.

Coffered ceilings, low corner additions etc.Anyone can slap lipstick on a pig, looking for high value add in high demand markets is where the $ is.

Two identical homes located next to each other would come up with the same value, even though House #1 was just renovated to a very high standard and House #2 hadn't ever been renovated since it was built in 1949.I always tried for an identical (or nearly so) beds, baths, sq ft of living area, garage and acres. 

@Jonathan Baptiste Have been house hacking before it was a thing, 29 years to be exact.

Option 3: Pay large down-payment on modest rent ready house. 

opens up a lot more markets and opportunities. you can build a 400 square foot unit or 4 of them or 3 of them or any size unit you want on any lot.