You could then buy in a nicer area and have your money work for you while still having a primary residence. 

DM me with the information below to schedule.- Your name- Property name or address- Unit count- Date closed- Are you the operator?

@Adam ShaIf you can buy a home for cheaper than rent then that is a red flag.

You could deploy that money elsewhere and buy a few  smaller (or at least less expensive) homes in a friendlier market and come out way ahead unless you are content with just waiting for the market to appreciate.  

I'm wondering if it would make sense to source modular homes in China and have them shipped to and assembled in markets like Memphis, Atlanta, Birmingham, and other where you can buy vacant lots with utilities for as little as a few thousand dollars.

When proposing a deal to potential investors, how many investors is ideal to say fund a $500,000 duplex intended for buy and hold? 

Buy and hold notes (performing and non performing)3.

If I was the seller I wouldn't agree to getting a lease from a tenant I'm trying to get rid of in the hope someone will buy the property.

Also do you know what you are buying?

I say this even as I believe SFR dips this current year--which means it's a buying opportunity-- because I believe as much as mortgage "demand increases".