.#1 with that price range an individual can do a brand new build to his specifications.

Please PM me with that bank and the loan officer's favorite brand of Scotch.With a 4.25% rate your P&I is going to be $807/ month, bringing your monthly expenses to $1638 and your cashflow to $62/month.Based on these numbers this is not a good deal.

@Jonathan Woelfle Sounds similar to what I'm hearing from a couple PMs in the area. 

One issue I am worried is that the existing tanent is late in rental payment during last few months and PM had to be served eviction notice and slap fines a couple of times to make him pay.

BP has leases for sale, and I believe they have different ones for each state, but I would still pay a couple hundred to run it by an attorney.

We had to get the city to rezone this to multi family, which took a couple of months.

So far, I have about 20 ppl interested - honestly half of this probably not even gonna show up during showing early next month.This morning I got a text from someone who lives in the area (a couple houses away from my duplex).

That said, you can come at your goal a couple of different ways.

A local "investor" has about 15 properties going up for auction in the next couple of weeks. 

I actually read through those blog posts a couple days ago.