Looking at picking up a duplex for 15k, needs 30k rehab.

However, there were some scuffs on the walls, the kitchen counters had some dried food on it and the floors were dirty. 

I was originally going to turn it into a duplex but with recent changes to STR laws I am choosing to keep as a single family for now.

We want to do a complete tear down and would be renting out a duplex for around $900/BR, most likely to college kids or lower middle/middle class workers in downtown Charleston, SC. 

This is a duplex that I am living in. 

Many investors are leasing their duplexes, homes, rooms etc. they do not have license.

The property is a duplex located in the suburbs of the Philadelphia region.

I own a SFH and duplex and I'm looking to move into apartments.

My friend and I had an idea to purchase a duplex together, live in one side, and rent out the other side.

(Bad credit is phone bills to collection and visa often late).The exit strategy is repay the property tax and put on mortgage on an 15 year amort so it will have at roughly 75% LTV in 2 years and refinance with a MIC.My concerns are as followings:If they do not pay I will either lose roughly $20,000 assuming an exit price of $130k or own a property (it's a duplex) that would have roughly IRR of 8% on a 3 year hold in a town that I do want want to own a rental in.The borrowers have enough money to pay as things are now.