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

Is this in northeast OKC?

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

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

Great to know your making moves again this year.

It'll likely pick up again at some point, I'm hoping that this summer will be much better than last year was. 

I love this approach.

Establishing the LLC in IL first does not provide any additional benefits in this scenario.

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

Never built in Houston before so take my feedback with a grain of salt but I'd put money on it being impossible to build a duplex from scratch for $125 a foot (including everything from drawings, engineering, permit fees, general conditions, labor, material, landscaping).Out here in AZ the builder cost is going to be $200 a foot at best, but add 20% on top of that for the client cost.