I’m in the Ohio Army National Guard and I am an AVID hockey fan, of course, I’m a Blue Jackets fan!

Any growth should really be icing on the cake. 

go out for ice cream and make an event of it.

@Anthony Varela it's not a one size fits all answer. it depends your overall financial situation. you will not want have negative cash flow for sure even though it's in a class A neighborhood with tons of appreciation potential. a lot of investors got burned play this game in the last crash. a $500 vs $100 cash flow ($50 is too low in my opinion) really doesn't make much difference remember your end game is appreciation, cash flow is really icing on the cake. but it will make a big difference depends on how much reserve you have and how much other income you have when raining day comes. the key is to be hold it minimum 10 years by then both rent and property value will go up substantially yes they do go up hand in hand you will be in the position I am in today.

Most people are more than willing to talk about their house and it helps break the ice and gives you important information about the house.

I was reading the average vacancy rate in the area is only 5.3% and the property is located just minutes from a shopping mall, bowling ally, hockey rink, major highways.

Having the contractors' statements just puts icing on the cake.  

My general thought is, it's more leverage, so just make sure that the higher loan amount isn't going to make your loan payment so high that you're skating on thin ice (again, debt service coverage ratio).Also AFAIK the 203(k) is for owner-occupants, so my guess is you'll have had to refi out your first-time homeowner loan on your current 2-family, before getting a 203(k) on another property.

“A good hockey player plays where the puck is…a great hockey player plays where the puck is going to be.”

In my state I can legally make it the tenants responsibility to mow the lawn and clear snow/ice in the winter if I am renting Duplex units or SFR's only.