Again, supply and demand.Lastly, anyone who relied on the tax abatement taxes in their operating expense analysis erred in their underwriting.

Do we, for example, sell our current SFR and put all/most of the equity into a down payment on the duplex and have a lower monthly mortgage payment?

I mean once you talk to them, it's pretty easy to spot if they know what they are talking about.I've work on STRs before and to be honest, it is not the most fun aspect of accounting because the volume of allocating income from all sources (airbnb, vrbo, stripe, direct booking, and so on) to a bunch of random expenses (cleaning, supplies, repairs, advertising, commissions, and all typical real estate expenses).I had to strictly rely on the client's input on what the expenses belong to which property or even units, if the paperwork doesn't say. 

We've had great tenants, a good property management company, and few expenses over the past few years.

The seller for this property is motivated because he never intended to be a landlord and wants to move to Florida.I want to try to get him to understand all of the expenses that I need to incur as an investor and that my offer price comes down to the number my spreadsheet shoots out basically.

I know I’d be able to adjust rents and/or pass on at least water and electric expenses down the road. 

My goal is to at least match my current monthly expense of $3k (After all units are rented) while aiming for long-term appreciation.

I see a lot of newer investors significantly underestimate the expense side of the ledger. 

Explain that you have holding costs and these delays are expensive to you.

The more protection you have, the more expensive it'll be.