When you have a duplex and tenants on both sides stay for ten years, it almost guarantees that something isn't right.I would study your market and determine the value of your rental, because I bet you are losing money every month.

Property Valuation:Investors look at a variety of factors to determine a property’s value, including comparable sales (comps), rental income potential, and location.

Which governing body determines these requirements?

I tell my clients to determine how much they have in personal assets - if they have more than $500K in personal assets, I always recommend an additional $1M umbrella. 

Given how the housing authority does their rent price determination on individual units, and government ran programs are never beacons of efficient processes, it can go either way.Note, the examples I speak of only relate to C-Class and below areas.

However, I typically like to make a distinction between my parents assets and my own, simply because doing so provides me more satisfaction when I succeed.

I'm not a fan of flipping simply because I hate paying taxes when I don't have to.

Steps to PrepareGet Market Data: Research comparable sales to determine the property’s value.

I've found deals in local online groups on Facebook, simply asking people for what I want. 

The background check is supposed to identify the amount of risk, then you determine whether you can mitigate that risk or not.