If you plan on living in one side, there are factors that will most likely make a bigger impact on your numbers than the "big if"...which has loomed overhead for how many years now?

Or do you like building things and seeing them develop. 

I continued to look for investors everywhere I went. at street fairs, through my small network of home owners and business people, hosted seminars on finding and doing fix and flips and built up a group of investors who encouraged me to find them development deals. 

@Darryl JacksonHow much you need can depend on many factors , the purchase price of the home , the rehab costs etc.Also if you are going to pay all cash or leverage ( hard money or private money loans etc ) If you don’t own your own home I’d suggest doing a live in flip or house hack as you can take advantage of low money down loans like an FHA loan for 3.5%Many people have used this as a way to start out and gain equity that they then use for other deals .It’s possible to do deals without your own money if you do a joint venture type deal but could be hard to find someone to partner without experience, might have to give up more than half the profit but still better than no deal .

Go pay someone who can take a holistic look at your goals and skill set to help you develop a plan for you to reach them.

As you know, markets are local, so we need to have fiscal restraint at the state and local level to avoid a debt implosion.Secondly, when you give a developer money, he develops.

Unless you plan on doing all the work yourself, you should factor in termite inspection/prevention, possible tree removal/trimming, clearing gutters to prevent leaks, sending contractors to fix things that break, painting unit after each tenant, changing locks after each tenant, cleaning, appliance maintenance etc. 

A new huge hospital was built just blocks away, new developments with commercial buildings and gas stations around the corner, other multifamily properties have sold 500K+), duplexes have sold 300K+, and also just a few streets over there have been some higher end condos built and sold.

Finding the right contractors to renovate at a reasonable price and time frame is another very important factor, as well.

Contractors and developers where building spec homes left and right and not waiting for someone to buy them first before building because they would get sold the second they where finished.