You'll attract the guests that will appreciate that and are willing to pay more for it. 

Unit A is about 100 years old and Unit B is almost completely new.Pros:-The duplex is in a very desirable neighborhood with home value appreciation year over year at about 50+%-Rent is also in high demand within this area-Cash flows well even with high interest rates and increasing property taxes-Home is price below average cost per sq ft-The house has been renovated and some parts of it has been remodeledCons:-All issues are with Unit A, the 100 year old unit.

All advice is greatly appreciated.

The math will tell the tale.When analyzing, assume little/no appreciation for 3-5 years and anticipate rents will stagnate.

On the other hand people keep telling me there’s never a “good or bad time to buy”.Sorry for the barrage of questions but would really appreciate any advice/insight!

@Jonathan SchwartzIt is assumed that the NOI will increase relative to the purchase price of the property, therefore increasing the terminal cap rate.For example:100k NOI @10% cap = 1M valueA 3% increase over 10 years =134,392 NOI134,392 NOI on 1M value = 13.4% CapCommercial property doesn't appreciate like residential properties.

. $40k is a great starting point, but a 203k will allow you to stretch it far further and even create substantial forced appreciation. 

In a year if you finally got an eviction you lost the ability for that $100k to generate revenue as a squatter house is not going to be appreciating based on the condition they will leave it for you.

I'm still curious about people working together with the next highest bidder (presumably one with discount) winning.I appreciate your insight, I've read several of your posts and bookmarked your site in my research on investing here in Detroit! 

This property likely will not appreciate faster than inflation which implies in inflation adjusted dollars there is no appreciation