Like you mentioned, sponsor is important, but also vintage.

I'm new to BP.com also so I apologize if this is faux pas but would you mind sharing numbers on your duplex? 

You can buy it new or go to a Construction Junction or Habitat for Humanity Restore and look for vintage cabinet/drawer hardware.

If you have valuable art, jewelry, or a car, you can get cash refinance to get the cash out.

A sweet spot can be a Rite Aid with a vintage lease in a good location that Walgreens purchased.

I like Bozeman because I have seen 80's-90's vintage deals with classic vintage (formica counters, original vinyl floors, classic vintage fixtures, white/black appliances, etc.) trade for >6.25-7.00% caps going in with value add upside for those willing to hunker down and make upgrades in order to realize rent upside.

The rent value is generally tied to not who is currently in the space and on the vintage lease but WHAT the current local market is doing and WHO the new tenant might possibly be national, regional, mom and pop, etc. 

Purchase price: $50,700 Cash invested: $90,000 Sale price: $205,000 Beautiful vintage 1920 Craftsman in the heart of North Knoxville.

If you loosened your criteria a bit (older vintage, lesser price point, less desirable part of town) you could likely be able to cash flow a bit more per month but from what I have seen not by a whole lot. 

Then never touch that mortgage again.Once in a blue moon I'll see a 30YF down in the mid/low 2s, vintage 2012 or early 2013.