Each person has their own risk tolerance, however what I will say is most people don't have straight cash to buy a couple hundred thousand dollar property hence are forced into utilizing hard money. 

While duplexes seem like a great starting point, I'm also open to considering fourplexes for potential increased return.Here's my situation:Investment capital: $200,000Risk tolerance: Moderate (willing to leverage, but strategically)Experience: New investor, but I've been devouring BiggerPockets books for the past 2 years!

Even though Non/QM is somewhat free from overlays it still have its normal TRID zero tolerance and other requirements.

I understand everyone's risk tolerance is different and I appreciate any and all feedback. 

Investors should understand their own risk tolerance and should align with a sponsor's strategy.

Aligning decisions with financial goals, risk tolerance, and lifestyle preferences is crucial.Good luck!

If the area is up-and-coming, it could appreciate well, especially as more development occurs.Ultimately, it depends on your risk tolerance and how hands-on you want to be.

I am the most risk tolerant I ever will be.2.

I'm not sure what your tolerance level is for rejection but I would start with the driving/walking for dollars strategy.

You are overestimating these numbers.Speculations as to why: tenants in these particular rentals may be tolerating a lower standard of maintenance than you think and thus everything wears longer than you think it will, I may have a different relationship with my maintenance people than you do (actually I don't let my management company do anything and I'm very involved in maintenance, I know how to do practically every necessary task, I manage people directly and sometimes I'll do a few things), there may be an error in your calculations such as you're assuming two units in a duplex don't share as much as they really do (they still share roofs, yards, and many other things), or something else entirely.Either way, your numbers are way too high and I will not be able to answer why in more detail or provide you with my exact numbers without spending a significant amount of time on this. 25% ain't too far off.