The current status of the market is low end rentals land lords that let the houses look like crap. 

When you say as long as its not directly in flight path, meaning - when plane flies over the house?

Depending on the condition you'll command a better price on the MLS vs. off market.

As for the decision, it's really tough for any of us to say without knowing your goals, your situation and the numbers on this particular house.

The non-conforming duplex was on the market for just $430k.

I would never let a client purchase in certain areas of my local market....

Hey @Brett Baker, generally, any place with a great water view or directly on the water will bring more revenue.Of course profitability will all be based on purchase price and prevailing nightly rates in the area.If you find a cool 2/2 or 3/2 right on the water with a great view for 1.5m or a 2/2 or 3/2 house a block away for 600k, then I would look at the house over the condo.

First, I recommend you understand the market.

Which strategy below would you do in the Austin market? 

I can also see the ends of the Commuter Rail lines being good too...like Haverhill for instance  The Salem/Beverly area is great and pretty pro-development/housing from what I'm hearing.