Intersting discussion to say the least.  

The one major difference in the one that hasn't sold is it's right up against an interstate where as the one above for 359k has about three other houses and a street between it and the interstate.

Also there is a park less than a block away and the interstate is under 5min away as well.If anyone has any ideas how much a rehab of a duplex would be?

Along with having interst payments that are tax deductible.

Would like to meet more investors with a bit of experience to gain knowledge and find out how you manage your properties, also how out of town owners manage from inter state as I plan to move in a years time.

@Marcin Talaga Intersting point on approaching a hard money lender sooner because I feel the same way.

In addition, very Intersted in outside-the-box concepts.

In addition, very Intersted in outside-the-box concepts.

These things are nice and can roll down an interstate relatively cheap.  

Here are the details:Permanet loan is structured as a 10 year maloon payment, based on a 20 year amortizationUpon conversion, for the first 5 years, will be based on WSJ 5 year libor swap rate plus a margin of 225 basis points, at 6 it will be the same but based on the current rateThere is interst floor rate of 4.25%Prepayment penalty is 3% for the first three years 2% for the next two yearsm 1% for the next 3 years and 0% for the final year.