Should you buy one property that is super expensive, yet fully renovated, commanding a higher lease and attracting a higher qualified resident?  

An investor is going to read duplex , then show up and find two separate houses, which can command higher rents than a connected unit because tenants like the idea of living in a "House" instead of an apartment.

Monticello historic district will command a way higher price than Keystone or Los Angeles Heights!!

It seems to me that MFRs are already in high demand for investors and are commanding crazy prices.  

@Matthew MacDonald This may be a stupid question, but are you really going to be able to command a high enough monthly rent to cover a $400k mortgage payment and generate cash flow? 

I own two fourplexes there and am looking to help clean up the neighborhood. 2-3 more good, locally-located landlords and the area will be able to command much higher rents.

I have a military friend that got leave denied when they unexpectedly went to a new command with almost no notice (she was pregnant)....no problem here is an already approved leave request and flight itinerary for tickets I bought 3 weeks ago (both fake and she was planning on driving).

What would it command in rent?

That is possible although note that China managed to get the spread under control  But then they can build hospitals in 10 days and march in 25000 doctors on command. 

@David AdyyI am a real estate agent and investor in the Houston market.Katy, Cypress, Spring, some parts of Houston, Conroe, Tomball, Pearland are great markets.Rent growth and appreciation is steady.These cities tend to command quality tenants, and they have great schools.Get in touch with a local agent or investor and shorten your learning curve and save you a lot of headaches as they tend to understand the market better.All the best!