Consider if all utilities are separated out to the individual units, as that could become a substantial cost over time that is better passed on to the tenants (people are more responsible with utilities they pay for personally). 

I like Liverpool a lot but in the village the taxes are substantial so just make sure it all pencils out.

In most any town of substantial population, there is always a need for Rental Units, either Single family or Duplex, Triplex, etc.

Jahmal James as Wayne Brooks noted the bank would not be involved as if it's worth $540k as long as the bank gets its $310k out of the sale the lien is satisfied - if you were trying to buy it for less than what the bank is owed don't waste your time as the bank would rather foreclose and get their full cash payoff since the property has substantial equity

This is why you have reasonable inspection periods after which a substantial EM, 5-10%, would be forfeited if they don't perform.

We have two duplexes now, and are looking to "level up" into something more substantial.

However, maximum financing, as described in HUD 4155.1 2.A.2, is available for borrowers related by blood, marriage, or law, such as spouses parents-children siblings stepchildren aunts-uncles, and nieces-nephews, or unrelated individuals who can document evidence of a longstanding, substantial family-type relationship not arising out of the loan transaction.

The reason for this exercise is to challenge yourself as to whether your reasons are solid enough to substantiate your desire to do this.  

However, rental income is passive income (unless you provide substantial service like cleaning or maid service, seen in ARIBNB activity) and you don’t have to pay SE tax on rental passive income, so electing S-corp for rental portfolio does no good.

That was my message a while back that I needed to reduce my number of scheduled showings substantially