Projected expenses won't be enough.

They used lasers to find the low spots and used "push piers" to lift those areas. 

The cashflow should cove ALL of the expenses for the primary (mortgage, taxes, insurance, utilities, etc) AND put money in their pocket.

Duplexes are cheaper to rent and expenses are becoming difficult for the average tenant.  

Managing self-employment income requires tracking eligible deductions like business expenses, home office use, and retirement contributions.

Activities that deal with electrical or plumbing should be outsourced to avoid more expensive issues unless you have some prior experience with the simpler repairs in each.

If I was the buyer's broker, I would have checked myself to protect my client.If they had, then they would have found out it was not a three family.Its a valid point.In NM, our zoning / city doesn't post # of units publicly, only high density residential or low density. 

You see all the expenses you had in just that.

Low entry costs How did you find this deal and how did you negotiate it?

Tended to leave off some categories of expenses completely5.