The rate difference between FHA and Conventional is actually over 1% right now for Multi family propertiesCurrently the rate offered is 6.75% and 193/m in PMI (private mortgage insurance)That makes the payment with taxes and insurance roughly:$3453/monthTaxes were $3820, and insurance is $1800/yrCurrently this building can rent each 2 bed unit for up to $1800/m with tenants paying all utilities.All in cost to close is: $71,414.64If you rent both units for $1800/m you can expect gross cash flow of $147/mThis is the reality of buying a turn key duplex in the area using todays rates and prices.I want to stress, that this is actually considered a great property and deal in todays market for the areaYes, prices are high, and so area rates...My goal is to show what is actually going on.

There are many different successful strategies depending on your cash, borrowing ability, rehab skills, time, local contacts, or lack of any or all of them.

You said you live in the house, so if it is for personal use only, that might play into the decision, and/or if you have a lot of room in the deal financially and have enough to pay for the higher priced, possibly better GC, that might be part of the decision also.In my experience, higher price doesn't always mean "better," but may mean more attentive and experienced and more and/or better resources (like better sub's, etc). 

Purchase price: $270,000 Cash invested: $40,000 Sale price: $359,000 Contributors: Peter Vekselman Partner Driven, in collaboration with Seth Choate, successfully completed a fix-and-flip on E Wildflower Lane, Fresno, CA.

(This would add sig to monthly payments and limit cash flow).

Since I have over 10 airbnb units in the metro atlanta area I have a systems and employees in place that automate the demands of running an efficient airbnb for business cash flow purpses. 

Purchase price: $220,000 Cash invested: $1,500 Sale price: $245,000 Contributors: Peter Vekselman Partner Driven, in collaboration with Denis and Samantha, successfully completed a quick flip on De Gage Drive, Prairieville, LA 70769.

What is the Cash-on-cash return?

If you buy in a location with significant and sustained population growth, you can use a cash-out refinance to reinvest accumulated equity as the down payment on additional properties.

Purchase price: $175,000 Cash invested: $40,800 Sale price: $305,000 Contributors: Peter Vekselman Partner Driven, in collaboration with Seth Choate, successfully completed a fix-and-flip on E Holland Ave, Fresno, CA 93726.