So, I politely road my contractor's rear; and the only way to do that without ticking him off (because I needed him on this job and future jobs) was to get dirty with him.

Looking into my first flip, here are the details.Good Neighborhood, one downside is its on main street but has a rear access.SFR REO Listed for 277 days and 4 auctions laterARV (lowest comp based) - 196KSelling costs - 21.8KHolding Costs (hml) 6m - 16KRehab Costs (20% over) - 35KMax Purchase Price - 92KProfit - 31.2Trying to go this route via HML with all fees deferred till close.Going Thursday or friday to talk to hard money lender but might have to find another if he is unwilling.I might be leaving something out but basically this deal I believe can be quite good.

You can make money in rentals or lose you rear depending on the cycle of real estate (going up or down), ever increasing taxes (occurring strongly in Houston metro market), how deep of a discount you bought at, the quality of your tenant, the quality of your management (whether personal or professional), good or bad luck with vacancy and major repairs, getting flooded even when not in a flood zone, the neighborhood improving or depressing due to too many renters and/or crime, etc.I can tell you professionals and non-professionals alike will be more than happy to guide you into a "deal" whether it is in your best interest or not. 

In its current form, the back of the house is rented and the front unoccupied.This presents an interesting opportunity, but also several challenges: Front units need updating, and front of building is over 100 years oldFront units have no stoves/ovens (they once did and were pulled, no visible gas hookups)Front units heated by gas, rear by electricSome units share utilities, not yet clear which units or utilitiesZoned as a two-family, like most on the block, though there is a 4 or 6-unit building across the street on a larger lotThis is an ambitious project for someone with my lack of experience, but I would like to explore it further before ruling it out, as I see the potential for considerable forced appreciation and solid cash flow.  

- painted every wall- added new laminate flooring throughout- gutted and rehabbed the bathroom- painted and added new cabinet doors- added new appliances- added a rear deck- added lighting - replaced HVAC unit What was the outcome?

Its a little funky layout but basically has 2 fixed rear escapes and one front escape that has a counter balance.

I hope they didn't leave a big mess near the rear entry back door. ok that's enough...

However, I was driving and trying not to rear end the person in front of me :-) Is it possible there are some but they just don't come to market often?

The upstairs tenant is a pain in my rear.

are duplexes a big pain in the rear, or are they a decent choice for buy and holders?