Hello, I'm considering buying a duplex in Ft Wayne. 

When rates inevitably go down, prices will go up so people buying now will be able refi thus increasing cashflow while also getting appreciation.

Three properties for $170K sounds like a bargain, especially if you can force appreciation after a turnover.If the property is breaking even with the initial purchase, I would pull the trigger on this deal with plans to BRRRR (Buy, Rehab, Rent, Refinance, Repeat) the properties as each one turns over to recycle my cash if the numbers work out.

In the future change your buy box to a value add box.  

@Jorge MartínezIf the builder is offering incentives to buy down your interest rate and if there is some negotiation room on price the new builds can be a good investment because you'll have a lower monthly payment and new builds usually come with some type of warranty and will have lower maintenance cost because everything is new.

If you plan on buying 1-2 properties a year at $200k, is a commission between $3-6k.2.

Others is buying dirt from the farmer platting it doing all the horizontal work then building structures . full gambit .. 

BUT, if buying a new investment property you can use 75% of the appraiser determination of the new property.If on the tax return, you can use short term rental income OR long term income.

Congratulations about buying your first rental property!

I buy with an agent and stay away from sale by owner.