I looked at two duplexes (C Neighborhood).

I have gotten into real estate last year with my first property a triplex and have since then bought a duplex. 

Another option would be to get private funding thru a family member / friend and they can place a 2nd lein on your duplex as collateral. 

I just purchased my first duplex. 

@Igor Messano Thanks for the clarification...there is no constant here...you're in the hands of the association...typically most condo owners simply own what's between the 4-walls...failing structure has nothing to do with you, but at the same time it has everything to do with you.I think this is just a step-by-step path that you are already venturing down.

I am looking for a MF duplex in South Austin, with plans to buy in the next 6 months, ideally by the end of the year.

You could also look for duplexes and triplexes. 

@rush wall I hadn't thought of dipping my toes into the post-hurricane market.

Also, what do you typically pay for a duplex appraisal?

This happens every cycle and It holds true for equities as well. this is when you switch to being a lender at far less than ARV.... if the deal is skinny its skinny to the flipper not you. back in 02 ish as I had a nice run at court house steps in the PDX metro area.. the last auction I attended was in Wash. co.. minimum bid was 80k on a Aloha 160k rancher..  35 individual bidders qualified so that was 35 people with say at least 100k in cashiers checks all crowded into the little foyee there.. so 3.5 million in CASH chasing one deal that ended up bidding up to maybe a 10k profit .I walked over to my bank and told my banker I am going to start a HML company so be prepared to change all my LOC's to a lending facility.. let everyone else bang their head against the wall we will just provide the capital   LOL.. well that worked great until it did not in 08.. but you know what I mean.. sometimes being the bank is far more profitable than being the flipper..