I suggest you determine what the value of the opportunity is before determining Jim much you can afford to budget finding the owner.I use the following acronym: PETIOPROPERTYEQUITYTITLEINTERESTSOPPORTUNITYWith this format I can determine where the sweet spot is in the situation.Since you are hopefully chasing a bunch of equity, you might be able to budget $50-100 or even more to skip trace a missing owner, if alive. 

I use the zillow mortgages app to see my affordability.

I can not afford anything in NYC unfortunately.

I'm really excited to join BP as I'm just starting to learn more about real estate investing.A little bit about me:I'm currently working on finding ways to help provide affordable shared housing in the Bay Area.

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In my previous situation, we built bridges, small health clinics, and schools from ground up, currently we do tenant improvements, so still, even with my construction experience previously, there is still a transition/learning curve.

Even after moving out the cash flow should be positive enough from both units so that you can afford to handle all the long term maintenance and tax increases and still make a profit.Betting on appreciation is risky as far as I am concerned.  

We even met with the previous owners who hadn't paid a mortgage in several years and had decided to sign the house over to an investor because they couldn't afford the upkeep anymore.

I live on the West Coast and have been looking for affordable cash-flowing real estate, and Missy came very highly recommended through Real Wealth Network, of which I'm a member.My experience with her has been nothing but fabulous, happy to discuss more in-depth if you'd like.

I don't have to worry about a renter not being able to afford their rent as the government pays part (most) of it.