@Joe Splitrock  Yes That's what I meant when I said I could possibly safe 30k. 

Technically, this house can easily be made into 3/4 units but just to be safe; I was planning on keeping it at two units with the attic or basement reserved for myself until I get things running.

Pretty standard safe stuff with not nearly as much upside l, but hopefully less downside too. 

We have two 1 year olds so being in a safe neighborhood is vital to convincing my wife that this is the best move to getting to financial freedom as quickly as possible.

My contractor knows he needs to pull permits, but I want to be safe work a legally binding agreement/document.

My partner and I are looking to flip it and want to replace the siding which has some wear and tear.Does anyone have good referrals to handle safe removal, disposal without burning the bank.ThanksSunny

@Logan LindstrumOption 1) is the safe and easy babystep version and Option 2) is the risky and sizeable version.

I would say you are safe in that 6.5%-7% range depending on exactly where the property is located.

It's the kind of neighborhood we all dream about:  high 'walk score', safe feel, coffee shops, theaters, low crime, high rents, and LOTS of renovations happening on older homes all summer long. 

Find the areas that are nice, safe areas, but aren't the most expensive.