How does Building Bits make a difference compared to what is already working?

Sounds to me 2 duplexes would be better as both would be going up in value compared to only one. 

Better Cashflow compared to "Core" Areas How did you find this deal and how did you negotiate it?

Other less comparable comps put this property at around $250kThe Problem: Foundation issues?

Remember with cap rate, you buy high and sell low.Along the same line as with @Greg Dickerson's post - primary markets and class A properties will always command LOWER (not higher) cap rate when compared to secondary/tertiary markets or B, C class properties.

(compared to what other investors are paying?

The general consensus is just like you said - the inventory for distressed properties to BRRRR is dwindling down compared to a year ago.

This amount is compared to the assessed value of the eligible land.

It's also been completely renovated, although it's on the smaller size, square footage compared to other houses in the neighborhood (1,500 sq. feet).  

That being said my numbers were abour 5% down in 2018 as compared to 2017.