Which again, people should later ask how such happens in a "free market system"....

Expect total cost to be ~350K per duplex and bring in 3-3.2K/month rent.

Between building codes, lower maintenance cost, and better resale value, do it right. 

They have very deep pockets, and if you you are looking for them to fund your business and don't mind working for free, they can keep you going until you burn out.

@Leah MillerHouse hacking in Los Angeles can help you build equity while offsetting high living costs.

Feel free to reach out if you have any questions.

Since my purchase anniversary is coming up, I want to use the same strategy...acquire another property with 3.5% FHA (because its a point lower than conventional), however, I now to refinance out of my FHA loan to conventional so I can free up my FHA loan for house #2. 

Since this is an FHA Streamline, there is no appraisal, no income verification, no employment verification, no out-of-pocket costs, and nothing rolled into the new loan.

I have about $150k cash on hand as well as I am planning to get a construction loan to cover the remaining cost of a duplex.

But feel free to use these points as a benchmark.