With the flip I am very handy, but I would hate to get into something, not knowing how much It’s all going to cost.

There are many more of this type of property in Durham as older homes with basements are still price accessible.To make it a "legal" or permitted duplex, the process is definitely cost and permit intensive, and in most cases may require you to use a GC or similarly licensed tradesman for parts of the project.

I don't think it's necessarily a bad investment even if your costs exceed your income in the year you're starting out.

This involves finding distressed properties, using savings for down payment and renovation costs, and using investors for closing costs.Good luck!

Hey Alex, sounds like you've got a solid set-up planned for the new duplex! 

Investing in Stowaway SS appealed to me due to its stable demand, lower management costs, diverse tenant base, scalability, resilience during economic cycles, and potential for generating passive income.

Investing in this deal appealed to me due to its stable demand, lower management costs, diverse tenant base, scalability, resilience during economic cycles, and potential for generating passive income.

In general it's a passive way to own real estate as the tenant takes care of the headaches and cost of repairs in most situations. 

If you are interested in talking, direct message me so we can set up a call and see if there is opportunity for a relationship.

They will go down sooner or later, and if deals work at the current cost of capital, then they will look even better when rates drop.Maybe it's time to evaluate other markets?