Try looking into zillow/Redfin and see what your potential rents you can get near the neighborhood by filtering the bedrooms/bathrooms of the intentional property that you are planning to buy.

There are many more of this type of property in Durham as older homes with basements are still price accessible.To make it a "legal" or permitted duplex, the process is definitely cost and permit intensive, and in most cases may require you to use a GC or similarly licensed tradesman for parts of the project.

In theory this would hopefully reduce my monthly rent costs and my payments would go to the new 2nd property to build equity.

Louis offers affordability, cash flow potential, and emerging market opportunities but also presents management challenges, unfamiliar markets, travel costs, local regulations, and crime rates.

But intend to keep your word to the seller by making their payments at all costs or selling the wrap for a high enough price to pay off the underlying. 

Keep in mind renovation costs will need to be cash aside from your down payment and closing costs - I'd create a healthy buffer here.

I don't think it's necessarily a bad investment even if your costs exceed your income in the year you're starting out.

Before wasting time looking for properties or spending a lot of time on projects, they should make sure they can get the financing because a) financing might not be available, b) they might not qualify or c) the cost of debt might be prohibitively right.Another mistake investors make is believe that they can apply a US strategy or financing model overseas.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

I've identified a promising opportunity: a 40-unit multifamily asset with significant value-add potential.