I am thinking near $400/month per unit including furnishings.  2 units would be $9600.   

The numbers don't work for most Duplexs in the greater PHX area which includes not great cap rates.

I’m trying to get a better understanding of the unlevered IRR hurdles SFR / BTR investors have for value-add improvements.By "value-add improvements" I’m referring to upgrades made to a property that increase rent or purchase value, often including kitchen remodels, bathroom updates, solar and other energy efficiency improvements, fresh paint, a new garage door, finishing a basement, adding a deck, and updating flooring, to name a few.I’ve been hearing a lot of different reactions to this question the last few months.

As long as the cosigner's total debt, including your rental, is less than your standard requirement, such as 33% DTI, then that would satisfy the income requirement for us. 

.- There are plenty of good RE podcasts including the BP podcast.

While the IRS does not mandate a physical site visit, the IRS cost segregation audit technique guide (ATG) does suggest conducting “field inspections.”It’s important to note that the ATG is not an official IRS document.It serves as a guide and cannot be used, cited, or relied upon as an authoritative source.However, the recommendations in the ATG are worth considering.According to the guide: “A field inspection is recommended to document the physical details of the building, type of construction, materials used for construction, the assets contained in the building, the size and types of building systems, and any land improvements that were included in the purchase of the property and the condition of that property at the time of purchase.”So while the IRS does not require a site visit for cost segregation studies, following the guidance from the cost segregation audit technique guide can be beneficial.

@Kevin Hilton not sure which market you're looking at for your next purchase, but I have a lending partner who can do investment deals (including non-warrantable condotels) with just 15% down if it helps. 

This screening includes the following reports:Credit ReportFelony Convictions ReportEviction ReportWe can also provide additional screening services such as the ones listed below:Employment Verification ReportPersonal Reference Verification If you contact her. 

Quote from @Jonathan Greene: I like DealMachine because they have skiptracing including in Pro now, but I still think of it more for neighborhood canvassing and mailing (aka driving for dollars) than multifamily acquisition opportunities.

For a flip, you'll want to get a builder's risk policy, which covers the property during renovations, including any damage from fire, vandalism, or weather while it's vacant.