Basement apartment conversions are common in my market and many others. 

Rental comps for 2BR units in the area are $965/mo.Assuming I purchase the property for $135K, invest $10k in improvements, utilize a 25% down/30 yr mortgage, and achieve 80% of the total market rents (from rentometer) + 7% vacancy/attrition, this property looks to cashflow approx $400/mo with a 9% CoC return and 12.5% total ROI.My questions are the following, not having much experience in analyzing duplex deals:- How would I accurately estimate rental income in my area for a duplex, if my area is mainly SFHs ?

Most REO sellers will not turn on or allow water to be turned on, or allow repairs for appraisals or before closing, most secondary market loans require all utilities to be on at time of appraisal, minimum 5 years or more roof life left, no holes in walls or flooring larger than a quarter,  or significantly soiled flooring, walls, ect. 

This to include copies of all utility bills for the 2018 calendar year.

What are the specifics on the deal, how much is asking price, how much is rent for each unit, are utilities included, how much work does it need, what is the local rental demand, ? 

I would like to sign a contract with some handymen so they will pay to rehab (they can use whatever material they want in whatever way they want to do), and after the fix, they will be responsible for looking for the tenants, managing the property and paying for utilities and taxes.

@Marcel HudsonHow are you utilizing you're thrift savings plan towards rei?

HOA debts are obvious debts though, typically they miss code violations, utility bills, etc.

:) That would’ve been perfect if I were single, but we have a newborn so I wouldn’t feel comfortable with having a roommate and sharing common areas with someone else at this time.  

@Jon Arsenault This seems to be a common occurrence with them, and any type of credit card payment.