Purchase Price- 135KFinancing- 75% @ 97Kish at 6%- 576$ monthly'Taxes 3700      Insurance 1400       Duplex Grossing 2000$ monthly (IMO, room for rent increase based off the size of the units)No work needed (updated apartments, 2 new furnaces, 2 new water heaters, 12 year old roof)Utilities are separateHouse is in an OK area, i'd say on the fringe of the ghettoCap rate around 9% most likely a little more...It's in Poughkeepsie which is buzzing right now with investors. 

So you know 600 is a terrible score that is on the fringe of disaster.

It may be "ok" because of some of the these more fringe benefits but you can do better.I'm in CA and I am in the same boat....cant find squat that will actually cash flow or be a good value add at a decent price....

You're probably looking at buying in a fringe area and waiting for it to appreciate.  

Austin is a great market, but if you want cash-flow (or even break-even) you will likely need substantially more than 20% down unless you are able to find something that needs work, in a fringe area or both.

One could make an argument that the out of town option is easier to get into and has greater potential for appreciation because it's in a fringe area.

This property is on the extreme fringe of numbers I am comfortable with, so this may just be a sign I need to move on!

Some colleges today have entrepreneurship programs (which were a lunatic fringe idea back in the 1970s when I went through business school).

May possibly be a sign of things to come as well, although they havent sold yet.I have always been a proponent of investors looking to the fringes for both opportunity and the ability to helping a community. 

My LLCs are paying that C-corp for its service and I use it to deduct all my expenses and also to get fringe benefits.