It will come with reduced leverage but still doable.

Lots of newer houses within the past 10-15 years that should easily be doable in your price and rent ranges...

@Anthony Ciulla What you describe (further developing a property with additional units if zoned correctly) is very doable - that's mostly what we've been doing in SD for the past 5 years.Be very careful, though - the costs associated with doing it are far, far greater than most people expect.  

Definitely doable but I agree that other routes to the same destination are safer paths.

We're building our proformas on $40k/year baseline requiring double-digit COC, so sounds very doable from what you are saying. 

(This was a concession I made in order to get the closing date moved from 9/1).Does this sound reasonable and doable?  

Realistically a 9% - 15% net return is doable after buying a distressed property and FULLY renovating it. 

All of my properties were bought at a 9% Cap Rate - which is still doable if you know where to look now.

I merely want to know about reference materials on this subject and is my idea doable? 

It is very doable to keep both going strong!