Unfortunately, you said some magic words that chum's the waters so que the "please contact me PLEASE CONTACT ME" replies vs actually answering to what you posted...... 

IE at the time if you built on all the hundreds of thousands of lots there you would have perpetual grid lock not to mention water quality etc etc.

The big deals will be vacancy, capex and appliances. (3 water heaters, stoves, fridges, microwaves?

Year 2 had some large expenses, including some CapEx items (water heater, roof).

The pipes have to be dewinterized so I would have a plumbing professional there prior and when the water gets turned back on just in case.

This post could easily become a book on what to doThis is an awesome opportunity and it sounds like a really cool unique property - no brainer to get it rented AND on top of that you can still go whenever you want.

Costs have escalated sharply, water up 25%, electric up 30% and natural gas up 33%, and at one property insurance went up 400%.

Don't forget about paying to start electrical, gas, water and internet services.

Inherited tenants are usually a negative, however in that area leaving the duplex totally vacant makes it a target for thieves to come in and steal your pipes, furnace, and hot water tanks.

If inflation and yields stay high, we might see more buyers sidelined, which could cool demand and stabilize prices.