And as @Basit Siddiqi said, you would also have the opportunity to put the portion of gain from the investment side of the duplex into a qualified opportunity zone. 

Be careful as some parts are zoned for longer stays only (vistas).

Legal and Regulatory Steps:Establish an Association: You'll need to create a condominium association and draft the necessary declaration and bylaws (condo docs).City Approval: Obtain the necessary approvals from the local government or zoning board.

My first LDR was from 2000 miles away (same time zone) with $150k budget.

Hi Tim,There are several effective strategies and resources you can use to stay informed about future development planning in your area, without solely relying on attending city council meetings:City Planning Websites: Most cities have planning department websites where they publish upcoming development projects, zoning changes, and long-term planning documents.

Yep there is are also Opportunity Zones for failed 1031 transactions

One hot topic to consider is getting involved in Qualified Opportunity Zones (QOZs).

Additionally, investing in opportunity zones, often found in these areas, offers great tax benefits.

Perhaps this is an extreme case to use as an example but I am using this to illustrate a point which is this neighborhood like many others in the country would be well served by finding the correct balance between zoning laws and ease of doing business.

Some markets may not cash flow that well and I get that but to say that it's okay to be in the red for multiple years because you have underwritten the market and know values will go up sounds crazy to me.I have only done a few deals to this point so maybe I am missing something but I would love to hear your thoughts on heavily weighing appreciation as the decision to move forward with a deal even when negative cash flows are the most likely short-term situation.