HABD SAFMR states that a 2/1 with 2 people in property’s zipcode on voucher maxes out at $1356, current rent is $779, and when I search for comps on multiple platforms I see the low range being $860 and higher end of median $1150.

I like strong MSA's, high rents, & low purchase prices, to maximize cashflow & cash ROI. 

The low purchase price was a big part of it.

Rates that low don't make sense especially if they're a no doc shop.

@Armani Pimentel Yes, I believe that wholesaling is generally not the way to go, because it is getting banned, there are people who try to take advantage of aspiring entrepreneurs like you, and it is extremely low probability. 

Home last sold in 2007 for somewhere around $120k, currently could sell for upwards of $400k, so it's probably paid off or has very low interest rate.

If you can’t do a 1031 to a non-income tax state, figure out a year when you will have lower income and tax rates ar as low as possible.

There are quite a number of things that can make utilizing an FHA loan more difficult such as more barriers during appraisal, appearance of low qualification/little cash, typically longer closing period, likely higher interest rate, and PMI cannot be dropped without a refinance if 3.5% down.That said, just chain 5% down conventional loans, and make sure your duplexes pay for themselves.  

@James Tobin  yes FHA will be a very low downpayment option for you.

I too have feelings and thoughts about the programs.After I get past my feelings, I have found that I consistently get paid and vacancy is low.