This goes the same for calculating rents in the area, I what to know the real data.. i.e. from the MLS, or insurance from the broker/insurance agent to make the right decision.

Then definitely get a quality PM and rent it out for a bit.

Once they're done, you can rent out the property, refinance,  and cash them out.  

I have a question about purchasing a duplex and renting it out. This

I'm not blaming, but this is generally a discussion item.

Quote from @Kaitlyn Beard: Quote from @Rob Chiang: what are the homes selling for out there? 

We have been around the bigger pockets community for over a decade now and have more 5 star reviews on bigger pockets than any company on this website in any industry (>270 5 Star reviews).

Also, what should a new investor be aware of when diving into this market?

Instructing or deliberately causing a borrower to sign business-purpose loan documents when you know the money will be used for consumer purposes has always carried civil liabilities.

In Charlotte, I'd personally on South End, NoDa, Plaza Midwood, Dilworth, Elizabeth, Uptown, or areas a bit further out like Ballantyne.