Needless to say, I don't sell them.

I thought of it that way, but figured some of the properties may need less work and could be good buy and holds . 

Needless to say, I am most focused on finding a tenant that will stay for the duration of their lease at a minimum and take care of the house like its their own.

Thought I had a shot.Well, needless to say, I get a cold letter from said bank, denying my application for due to "Unacceptable Business Purposes"...?! 

Needless to say holding cost and overages ate my lunch.

That way I’d be paying loan tax and would need less of a down payment.

Needless to say, I think it can walk away with between $60-$70k.

Needless to say, it's a very attractive strategy with high upside but... also certainly higher risk for me personally given I've only done medium sized remodels, definitely not rehab of distressed properties, nor buying higher risk properties.In the process of easing myself into this strategy, I've done a lot of reading and research in the last few months including as many books as I could get my hands on by David Greene, Bruce Turner and others, as well as perusing forums/podcasts on BP and other sites. 

If anything, I'll need less space when my kids leave the house.Is it true that I'll lose value by converting to a duplex?

The difference is that in other markets you need less money to start.