But wait there is more: depreciation can help offset other income from other properties not to mention your tenants are paying off your mortgage. 

Hearing that, many investors would decide to wait for the market to cool off.

And do not wait if you file in court. 

@Valerie RogersNow let me ask you:-What about the hotel lobby which is paying politicians hundreds of thousands of dollars in campaign contributions to protect their interests? 

I would never give up anything up front unless it is for simple moving costs (under $1K post move), if beyond, make an additional agreement that you can attach to retail sale of home.Seller will have to wait for his $ just like you do.$430,000 (ARV)-$310,000 (Balance could be plus or minus several thousand)-$20,000- Holding Costs (insurance, utilities, PITI, etc) about 6 months...

Should you only go in on a duplex that would cashflow if you hypothetically were to rent both units OR is it ok to take out an FHA loan and then waiting for the rents to go up to a decent cashflow before moving out?

Are they willing to wait for payment when I get back or online payments if available?

Banks may look at the income from the tenant as income to you and count 75% or so of it but they may need to wait until that income is counted on a tax return. 

Can't wait to see what they have.

If you can’t wait for them to approve before making an offer you’re saying I’m offering a smoking deal and just want to lock up my property and other buyers may be coming soon. 3 days is reasonable.