Im estimating closing costs to be $2500The add says it should be able to rent for $700 each side so being conservative I estimated at $600 each side for a total of $1200 per month. 

I'm planning on living in one side, renting out the other for the first year through an FHA loan.

Other house is in mid-town, newly 'hot' area, so I see more opportunity for growth there...but I may be wrong...recession saw many houses here drop 50% or more, especially on the high end...Lastly, if you want to build be sure to check the SDC's for water, sewer, parks, traffic etc.

I can't speak to the professional real estate side of your questioning but re: the "from away" bias... 

The outgoing pipe from the boiler gets hot for about 20 feet, then it is cold by the time the pipe makes a 90 degree vertical turn and rises from the basement to the second floor.

Account Closed I would also consider the western side of the state.

Lots of east side neighborhoods are coming to-Lincoln heights, El Sereno.

You have rents of $1900 so can only assume you’re not going to owner occupy 1 side.

On the bright side, I have had the same 2 tenants in the property since we bought it (no vacancy!).

This is within a fairly hot market.