And, appreciation is always a nice bonus.I assume a long term hold is your plan.

How much net profit in general should I look for on a long term buy and hold rental property like this?

They are sure to move on at the end of their lease term. 

Renovating a duplex can boost cash flow and long-term wealth.

Long term/ short term rentals would work, ideally in the $400k range or lower. 

- Is this a Short-term rental? 

A more holeistic approach is needed: long term wealth is mostly created by principal pay down and appreciation.

I have a client that owns a few properties off Web Gin House and they stay rented to long term tenants due to the schools.I'd be very selective and conservative on your numbers going into Decatur / Smyrna / Marietta for a 3/2 LTR - lots of rentals in these areas and can be tough to lease up.

my primary investment goal is long term appreciation and wealth accumulation.Looking forward to connecting.Best,Nish  

You’re in a solid position, but the challenge here is that your equity is tied up in a property that’s cash flow neutral—which means pulling cash out could push it into negative territory if you’re not careful.A HELOC is the most flexible option, even if you’re planning for long-term investments.