Can you buy a duplex in Arkansas and live in one side just to get your feet wet and make sure you like the area?

If you can rent 3 units for $2,000 you are close to breakeven.On the plus side, you will have a highly attractive asset and several decades without much cost of capex and repairs. 

I certainly want to err on the side of caution in terms of investing in a pricier asset (at least in my RE experience thus far). 

From the investor side, we have a lot of issues with how these note investments were presented to us by Safeguard. 

Permit eligibility is based on region (usually the west side of town) and density (quantity of surrounding STR's in the area) as well as percentage of landscaping and minimum parking requirements. 

Hi BPersI bought and completely remodeled a building with three side-by-side, 2 bed 1 bath apartments and one small, 2 bed 1 bath house on ~1.5 acres in Ojochal, Costa Rica.

The house is on the east side of houston near 2 universities but it is a rough neighborhood.  

Quote from @John Williams: Has anyone been on the lender side of private money and had a bad experience that they are willing to share?

The tenant laws are also not on our side. 

you could do more on private lending side which is interest only and 12-24 month loans.