BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

Buy something else.

Jeffrey:I'm connected to a large group in Indy that focuses on buy & hold SF and apartment (commercial) residential real estate. 

We are buying two houses right next to each other.

Well, a lot of life happened and now I am getting back to zero no debt and I'll be renting for now and I am considering a duplex to buy cash or maybe land and some sort of unconventional home but still purchasing cash.

Just make sure you are fluid with this info on each property so you do not buy wrong.  

I’ve had several deals like this on the buy side and sell side where the “gremlins” came out and started whispering against my intuitions.  

Most likely trying to find a sucker to buy this and take over the costly legal battle they are entailed in.So next time someone is like "yeah just get a deed in lieu at closing", think twice about that.Actually, I use the deed in lieu.  

My personal preference for a buy and hold would be an already established area (or an area that's still gentrifying, but has already seen significant progress). 

Are you considering moving to the market where you buy your next property?