And you need to keep detailed records of all repairs and improvements.

I know it's over your budget, but is this the kind of property that would interest you: https://www.realtor.com/realestateandhomes-detail/194-Joliet...?

Residential investing is not rocket science, knowledge is not the issue: there are many good books out there that walk you through every detail you need to know.

Our current lender is offering us 170K cash out refi ( I will be researching this in a greater detail ).

Feel free to PM me if you’d like to discuss any in further detail.

Even though interest rates are high, we have a big Mircron plant coming here as part of the CHIPS act so that could boost housing demand in the coming years.I don't know the SYR market, but I did a quick search for duplexes somewhat outside of the city, and found this: https://www.realtor.com/realestateandhomes-detail/7300-Lakes....

You also have setback restrictions which are based on height.That’s just some of technical parts of zoning.

I'm going to need a few more details.

What I personally do is I will hire a local Civil engineer who has done subdivisions in the jurisdiction and I will pay them up front for a detailed feasibility study.

There are a lot more details that go into two VA loans and the downside but transitioning into a conventional loan on the  investment refinance will save you a lot of frustartion down the road.