Look for a mid-sized PM company with a strong local presence.

i strongly disagree with this. 

Another important thing to keep in mind is that markets with strong cashflow won't typically have as much appreciation.

If a person has to ask, at all, I STRONGLY advise to use a PM service for tenant placement. 

But I strongly urge anyone to always get Aldermanic support before proceeding because it makes life--and the entire project / process--a whole lot easier. :)IN SUM: Based on what you've shared, it sounds like you won't need to rezone if you just want to build a duplex.

Ask yourself if you’re confident you can achieve a higher return by putting that money into another property or investment.Reserves: Do you have a strong emergency fund?

If local options aren't a fit, expand your search to other markets with strong rental demand.

Duluth has traditionally had a strong college rental market and thankfully any small decline in enrollment rates haven't been as severe as other traditional college cities, eg.

My Insurance Agent has strongly recommended that I put a Construction Agreement in place with my Contractor to shield me from liability, etc. 

I know the seacoast of NH has been mentioned here but I wanted to point out a few options that could be considered.Hampton, a popular coastal town, has strong demand for multifamily units near the beach and a robust short-term rental market, especially in summer.