If you're looking at buying a rental or house hack in the Triangle, then you should consider short term rentals. 

I want to go the buy-and-hold route, and I am interested in finding a duplex that will provide a steady cash flow, a high appreciation value and does not need renovations.

Our Goal - buy this property with little money out of pocket.

We can buy the house for maybe 125k and he estimates 120k in renovations.

My wife and I also invest in STRs and I spend a lot of time working over the best place to buy our next property.I've been looking at Packwood recently for a client.  

Here is the Collin Hays method of buying the property at what you want to pay:Don’t ask the seller what their best offer is.

If you’re looking to buy and hold and get all 3 benefits that’s the way to go.  

The plan is to buy and hold. 

Which island are you buying on?

Quote from @Christopher Lynch: I recently watched an episode of BiggerPockets where the guest discussed how he started a real estate investment company and buys commercial properties with 0% down.