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.

@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. 

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

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.  

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. 

With a Conventional Loan you can buy a SFH, Duplex, Triplex or Quadplex with as little as 5% Down if it is your primary residence as long as you have the intention of occupying one of the units for 1 year after closing escrow.This is the strategy I have personally implemented and have assisted many of my investor clients in doing the same. 20% Down is also beneficial as it keeps your payment low but it does limit your ability of buying more real estate faster.i would be more than happy to discuss the different strategies with you over the phone or in person.

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

I also watch occupancy rates and adjust if bookings are low.

Between lost (or forgotten) coin and government buying, I'd say the total float is too low to ever make BC a widespread 'currency'.