Although there is no pricing like you get in Ohio or much of the mid west or rust belt.. so much of those areas RE cost less than replacement cost even if the lots were free.. just is what it is..

It would be for $120k plus closing costs for a year or two until we could refinance.

No.  

Every market will vary due to labor costs. 

A duplex is a great way to start because that renter will help with your monthly out of pocket costs and it's a convenient way to get into real estate investing.

I was able to qualify for about $95k in 0% business credit cards (for 12 months), I then liquidated the cash and used a portion of that to obtain the hard money loan that covered the balance of the purchase cost.

Suppose they say "No, sue me."

Was going for the best cost-of funds (lower rate)

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

No one knows what the future holds but assuming a 7% return over the next 20 years those accounts will grow in total to $2.4M.