You may also be able to "make your market" if you can hit a critical mass.

If you are willing to live in urban areas you may want to talk to a local bank in your market and see if they have any incentives or grant loans for certain areas.  

I realizing the duplex conversion strategy is more complex I probably wouldn't try it on my first property, just want to get a sense of what's possible in the Chattanooga market :) Thanks!

Chicago, with its vibrant neighborhoods and strong rental market, is a prime location for this strategy.

Depends on the market!

Are you in the Atlanta Market?

The garage and the fact that a long term tenant was in place paying market rent.

Educate yourself with books, podcasts, and market research, define your goals, and build a team of professionals to support your journey.

Let's say you paid $250k for it, and it's now market value $500k.

Educate yourself on the local market, network with other investors and agents, and always have a solid plan in place before making any investments.