Hi Fergus,If you can handle the workload thats going to come with building the two duplex's, I say go for it.If your going to be biting off more than you can chew, liquidate.It really depends on your risk tolerance at this point.The construction loan is a doable deal as long as you have solid credit, have experience /hire a builder.

As long as I can find a property that makes the numbers work, I'd be happy.

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

You can be successful without visiting the area you want to invest in as long as the numbers make sense and the team your working with (realtor, GC, PM) have your best interests at heart.

Dont think having my insurance fix it is fairYes it is fair as long as the trees appear healthy.

As long as you are always realistic about the collateral value and the borrowers ability to execute the business plan, you can't go wrong. 

That is the best and fastest way in and as long as you have experienced help, you will learn by doing far faster than aligning a career to help you learn.

As long as you have an entity.

As long as you have the knowledge, drive, and a great/qualified team to work with, you can find success in most places.

I always looked for properties that were in areas about to 'gentrify'......that combined with a little renovating is an awesome way to get a multiple equity boost....This is a literal no-brainer to me......as long as the area is not going to go downhill....