From this information I can reasonably accurately run my rehab and profit potential numbers in under five minutes and let you know if I want to come look at the house.

You split the net profit 50/50.

As far as a duplex being more profitable than an SFR, per side, it may or may not be.

From the beginning I would feed any profits into a contingency fund.

I'm not going to pretend that it is what I've been doing here, I personally decided to focus on buy and hold in a more numbers friendly market back home in FL, but if that many houses are selling for a premium then it seems that if you can find any of the deals that aren't going through the more traditional sources you'd have a good potential for profit.

This of course exposes me to bigger profits, especially if I open up and get people working for me and doing more than one rehab at a time.

I didn't think this was a bad trade-off because I know that if I get one REALLY BAD tenant that person could destroy hopes of any profit for a year or longer.

I like the idea of growing a portfolio of rental properties which I can help fund with the profits from rehabbing.

You find the deal, they give you the money for the purchase plus rehab, and after you flip it, you give them a percentage of the profits.

It was also a nice hedge for if the market changes and single family homes rise in value I can sell for a larger profit.