He bought a fixer upper with a 203k loan, and now is refinancing the loan to drop off the PMI.

I’ll be renting out the upper unit while living in the lower with roommates covering 100% of PITI.

My point is that there is an upper limit on everything, including appreciation.

They'll give you a sense of what Cap Rates different property classes are getting in your area.As far as property classes, here's how I think about it:A class: White collar/upper-upper middle class, higher-end finishes, very safe neighborhoods, good schools.

(upper 90s during the winter and summer, down into the low 70s during our "shoulder season" of May, October and November).

I have a tenant in the upper unit if my duplex that was served a 28 day notice to vacate back near the end of August.October 1st rolled around and the tenant was unable to fond a place to live, so we granted her another month as long as she paid, and she did.

I'm looking to do a first house fixer upper, probably a live-in flip.

We buy fixer uppers and rehab them and resale.

Regarding 36" uppers - just buy 24" & top them with 12"... 

If you are trying to buy a residence that's a fixer upper so you can get started, you don't need to do anything but get your credit and finances in order, then they'll give you the loan.