I may be overly pessimistic but my experience with duplexes has taught me to be ultra conservative on my projections.

.  :-)Most likely, you're focused on either/both ultra-low-end properties and/or properties that need very little work -- these aren't typical in this business.  

I've procured some of the Allure Ultra for my SFR; should be installing in the next few weeks. 

@Marc RobersonWhile I am 100% on board with you on the payment of HOA fees, many HOA have become ultra aggressive with fining residents and charging rediculously high transfer feesThe hiring of private firms to fine residents for a lightbulb being out, a small patch of dead grass or a fence board falling down is purely to drive revenue.  

It may be true for the ultra wealthy that RE was not their path to wealth, but for millionaires which is the new middle class RE is still a lion share of their paths to wealth.

At a cap rate of 7.75%, purchase price would fall close to $1.6mm.Seller would like to sell, but is not ultra motivated and won't accept lowball here. 

If you don't indicate upfront, you're setting yourself up for frustration down the road.As for the prices, they appear relatively reasonable for a GC, assuming he's not using ultra-low end fixtures.  

Given the ultra low interest rates of today... and generally a very small difference in rates between 15 and 30 year terms, generally speaking 30 years is a no brainer if it's available and fixed.  

That "New house" smell might go over well in some markets, but not here in ultra-eco Portland.

Implying that there's something wrong with RE investments being reserved for the ultra wealthy didn't bode well for the sharks.Conceptually, I think everyone should have access to all types of investments.