A lot depends on your entry price and instant equity. 

Depends on the area.

Quote from @Iris Wu: @Steve Mitrano, Hi, Steve, do you mind providing an update on what you end of doing in this case?

This will all depend on how good of negotiator you are. 

Our Underwrite takes 24-48 Hours, if we are provided with clean and correct documents.

Sometimes you dont have much of a middle ground depending on the demographics.

It just depends.

Now that Steve has provided you with the right places to look, you will be even more prepared in your vetting the next time.

If you did a cost segregation study on the property in the past, you may have to recapture the depreciation taken in the past.capital gain tax rates are 0, 15 or 20%There is also a potential 3.8% Net Investment Income Tax.Also, don't forget state income taxes depending on what state the property is located or your state of residency.Best of luck!

I want to go the buy-and-hold route, and I am interested in finding a duplex that will provide a steady cash flow, a high appreciation value and does not need renovations.