One is a SFH, one is a duplex...the SFH is larger, will netmore $/mo because I won’t pay utilities... very similar in finishes, the duplex a little more updated.... but it appraised for 243 and the SFH only 164k... are Duplexes just valued higher in high rental neighborhoods?

Unless your neighborhood is deteriorating it may be advisable to hold out until prices are higher and your equity position is increased.

Neighborhoods can down-trend as well as up-trend, for example.  

I have lived here for 7 years so I am pretty familiar with all the areas but am having trouble picking a neighborhood.

You can call local city, police Dept and post office - ask the people who deliver mails in the area about the property and  neighborhood environment of subject property.  4) If I live near by, drive around and talk to the  neighbors.  

I am looking at a vacant property in my target neighborhood and from what county records indicate, the subject property has been used as collateral for the owner to purchase their primary residence. 

Looking for suggestions...We have a two bedroom condo in North Dallas (North of LBJ) in a decent neighborhood. 

You're not investing in an MSA... you're investing in a neighborhood, in a township, you're investing in a school district, you're investing in locales.... and that's incredibly difficult to do if you've never been here. 

Get proper insurance, also if you did buy in an LLC you would probably have a much higher down payment requirement in the neighborhood of 20-25% as opposed to 3.5% FHA

I will definitely get in touch with you once I have a bit more experience and have experience closing a few deals.Do you specialize in a particular neighborhood in NYC?