The ATR requires the lender to establish historical earnings with enough support the income will continue for the next 36mo.

Appraisal must support the purchase price and Rehab amount with an ARV value. 

On this website there are numerous spreadsheets that show what the cash flow may look like with various down payments and interest rates.

Also, if you don't have a mentor or community for support as you navigate your first deal, I would suggest looking for that as well!

I am not able to offer much financial support or knowledge regarding strategy.

So this one the City would in no way support the continued duplex use...So the final answer to your above question likely depends on the story, and also likely depends on what the City's preferences might be. 

Hey Joe, First I'm impressed with this community and how supportive it is.

@Anthoney Hanks thank you for the support! 

The "workmanship" that we're seeing, across the board, is nothing short of disgraceful - paint hiding rotten siding, vinyl flooring over rotten sub-floors, "new" shingle roofs over 2 old roofs where the structure can't support it, load-bearing walls removed with no structural replacement, even a swimming pool that was buried.  

Supporting the claim that our city is growing and there is a demand for housing, even with more units available.Toledo is also the home to many employers.