Just be aware of the issues:1.)

Some forums suggest to invest in states where i have friends or family... which is only Georgia or Louisiana but seems almost impossible to find a decent duplex within the range of 85-$110k in those states without having to invest in major repair. 

Now that we're about six months removed from the debate, it's time to revisit what actually happened. Here are three articles that made it into the papers:
"Addiction treatment group buys building in Main South, fuel...

Have not had a 'issue' selling in the past five years..I would say the additional development cost of an extra bedroom/bathroom are probably well worth it in the long run..Good luck. 

That being said, I am getting inspections of all major systems to ensure quality as this will be a hold for me (I would do it anyway, my name is on it).

Check Your Credit Report RegularlyObtain free copies of your credit report from the three major credit bureaus (Equifax, Experian, and TransUnion) annually.

Major remodels generally don't pay back in value unless the comps in the area have certain features. 

The majority of creative finance deals are actually done by those with capital because they have the leverage to play that game.

If this is an owner occupied property, you can do a delayed purchase refinance, however majority of lenders will go up to 80%.

As an investor focused buyer's broker I spend the majority of my time helping buyer(s) assess properties both before and after their offer is accepted.