There are two (yes, only TWO) duplexes/triplexes for sale right now in ALL of Elk Grove.There is a Duplex on La Nuez Dr offered at $315,000 with rent's of $985 each side, hardly passing the 0.60% test let alone the 1% test.And there is a Triplex on Rancho Grande Ct offered for a whopping $520,000 with total rents of less than $2,800 and scores even lower on the 1% test.Put simply, there are better rental markets out there amigo.While you might be able to find a rental with no rehab needed in a great area, and possibly great tenants, the prices are simply too high and the inventory too low and due to most people living there wanting to own the home you may go awhile in-between renters when your high quality tenant saves up some cash and buys a house.

@Michael GarrisonI was just trying to see what would be best for his situation, conventional online lender on  a residential loan which would be cheap and great terms or a local portfolio lender on a commercial loan which would be a little more expensive but still cheap in the grand scheme of things. 

At the Grand they are very expensive (I guess 800 plus)2) I believe for that price you are buying a share (likely your 3 months assumption so ....

My earnings potential expanded exponentially as I went further into school, and if I had done so from the beginning I would probably be at least $200 grand further ahead than I am now. 

For a grand total of 1080/month in expenses.

Hey, I live in Holland, and invest in Grand Rapids currently.

It's part of the Grand Bargain that was struck following the Great Recession.What consumers got... 

If your comps really are ~120ish, then you have a lot of room to work here, even if you're off a few grand on your rehab.

I think although it depends on the market, converting 2 small rooms to create a grand master bedroom/ master bathroom would be largely beneficial in most areas.

That got my thoughts going.My girlfriends grand father may be one of those people.