Or you can be in between the 2, and get a 5% ROI in a decent area (Numbers are not exact, just examples)I hear many people say they are doing it for "long term wealth", but will end up turning down an opportunity that will be much better off in 5 years, opposed to another property that looks great now, but in 5 years will be in the same spot it was before. 

Pick your path (renting out properties, fixing and selling) and look for good spots.

@Julie Hill Hi Julie, The Coachella Valley is a great spot for STR’s!!!

I'm generally in solid C/C+ areas... ones I can see transitioning to B areas in the coming 3-5 years based on my market knowledge and proximity to developments or revitalization efforts.It's the best spot to be in Detroit IMO.

@Melanie P. is spot on, brother.

But, it also means more work in managing, tricky loan processes, higher start-up costs, and the risk of market changes.Lubbock, with its high need for rentals and low-cost living, is a top spot for duplex buyers.

Pete, look for good spots like Seminole Heights and Ybor City.

If you can't pay that debt off after your introductory APR expires, you will be in a terrible spot.  

It doesn't take long to learn how to spot a good deal.6.

The only options that seem available to us are add the parents to our application, remove either parents or wife from the duplex, or in the future put the rents all in my wife's name which might negatively affect my in-laws.You guys are my Hail Mary, hoping you can spot a solution I'm missing!