If you want to develop it, I can refer you a lender that will lend on a completed subject to appraisal but you'll be limited if you just want it for the lot.If you simply want the land as part of your property, you have more options including a HELOC which you can still use for development down the road. 

My plan is to maintain the status quo and benefit from annual rent increases and equity gain as the tenants' rent covers the mortgage.

My plan is to maintain the status quo and benefit from annual rent increases and equity gain as the tenants' rent covers the mortgage.

LOL  a softer way to say this is if your simply looking to become a landlord this is a very easy subject to read up on and learn and understand U do not need to pay someone to teach it to you. 

Quote from @Devin James: Quote from @Jay Hinrichs: this is a hugely subjective question. 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I’m 18 and currently living at home with low expenses.My dilemma: Should I buy a duplex as a house hack and cover the negative cash flow to start building equity?

Set aside a big pile of cash or rely on a line of credit you won't be using.The oversimplified insurance concept is to pay a small premium to cover a large loss.

This is a complicated subject, and I'm not 100% sure I'm following all of your points. 

Loss of use is foryour additional expenses if you can not live there due to a covered claim (ie.