So, if you’re an investor, obviously don’t focus your energies right now on foreclosures or short sales.

@Michael Pison if you include a mortgaged duplex and a paid off house you should see a very healthy profit, however if you are just looking at the duplex you'll likely only see reduced living expenses.

Start out by playing defense and reduce your expenses.

He wanted someone with high energy and time, and we had some to spare!

@Cody L. if you have any tricks for reducing the fixed costs inherent in getting a loan from a local bank and then converting to a longer term fannie/freddie loan later I'd be interested in hearing about it.

They have better resources for marketing and can reduce turnover time.

The house hack is a great option to start with not just to build some cash flow or at least reduce your monthly cost for living expenses.

Any external evidence that is likely to cause you to have to reduce rents in the immediate future?  

Sometimes they're assessed way too high and you can appeal the taxes and get them reduced. 

The fact that you can dramatically reduce your expenses house-hacking your own property is a plus itself :DAll I'm saying is that my me and my mother are currently house-hacking two amazing properties right now because we plan to hold these properties for at LEAST 10 years.