I plan and hope to get a low down payment amount with a first time buyer FHA loan.

And all other low down payment options are off the table.

I would perhaps consider doing only one half and then living in the other and renovating as I go and do that out of pocket. thanks for the info about what rate you got, that solidifies my belief of getting a low 4% rate. 

The pilot light is still lit and I can turn the furnace back on if I want.This is my first home - logically it makes sense to shut something off when not in use, but houses have so many nuances and I want to avoid a situation like "well since you shut off the furnace that cooled the insulation which then caused flaking which then clogged your air filter and yada yada your foundation broke and collapsed and there goes your investment."

In-fact, if you are buying residential (1-4 units) and willing to live in one while you reposition the property, you may be able to manage a down payment as low as 5% (SFH & duplex) or 10% (3 - 4 units) ... whether your new "business" will carry itself at 90 - 95% LTV will depend on where you live and how well you purchased.    

I live in Danville IL and it looks like everything is for sale low prices homes rent ready anywhere from 15 to 30k and of course your older run down houses 3-10k all different types of houses in different conditions.

I think the rent is a little low maybe.

No reason to over complicate what should be a simple low cost deal.

Regardless if they are a Doctor, college student or a low income housing tenant.  

No damage or problems, just money issues.In light of the recent disaster in Houston, is inventory lower, thus making rents and costs of real estate higher?