I'm still in the hustle phase, where i think the past 2 years, we've been waking up early  Saturday/Sunday and working 8am-5PM, in addition to our full time jobs,.... i'd say a solid 90-95% of the weekends, it takes a toll on you.. but that's what's it about.   

yea...i have to say a van is not very manly, but when you pull up to a Wisconsin Home Depot with a light drizzle in March, you will be glad that you can stick 35 sheets of drywall, lumber, nail guns, compressor, tools, etc in the back of your minivan, and its snug as bug in a rug, and out of the elements. 

I'd say a dream scenario, budget dependent of course, would be to buy say 4 turnkeys in 4 good markets (from good providers), hold onto them for a year give or take, and assess which ones you've liked the most.

When you say a "no-doc lender" does that mean a hard money lender? 

For example, perhaps it was discovered after the sale that the debtor filed BK minutes before the sale; or the debtor actually reinstated the loan; or the auctioneer didn't get a message to cancel the sale.What did the letter from the attorney say as to the grounds for rescission?

I would keep trying to find a tenant at a lower rate to get it performing and short cycle the lease, say a 6 month lease at a lower rate.

-KevinThe fact is, buying duplexes or small multi-family does NOT make sense in all markets.If the purchase prices and rents are in line with what you stated in your post, you only really have 3 options that make sense: 1) don't buy a duplex, 2) find that rare gem of a deal (say a 200k duplex for 100k), or 3) relocate to an area where it does make financial sense. 

without my having to say a single word!

I think one thing that you could have done if you didn't already was to ask for several references of investors who've worked with this company and had both good and (if they give it to you) bad experiences over a longer period of time, say a few years.Can you PM me with the name of this turnkey company? 

So, a building could easily sit vacant for a long time before a business tenant comes along.That said, I wouldn't mind a mixed-use building in my rental portfolio with, say, a specialty grocery store on the ground-level and apartments above.