By analogy, this would be like having airplane passengers wear parachutes instead of focusing on what it takes to keep the plane in the air.I think a better way to protect your equity is to:Maintain the condition of your properties and operate fairly and ethically with constant regard to the lawPurchase insurance to cover any inadvertent negligence and/or simple bad luckVest title in a business entity that fits your partner, business, and tax strategyGood luck on your purchase.

I'm definitely open to learning more about the market to see where/if I can fit in someplace. 

I assume that the best structure would be a mixture of cash and loans, but would love advice.I need to find/purchase raw land (currently looking around 10-50 miles outside Austin City Limits), build out the infrastructure with my construction company, and ideally purchase/own all of the trailers I rent out at a monthly rate.Questions:1) How much of my own money should I use (20%, 50%, as much or little as possible)?

Duplexes are difficult even under ideal circumstances because there are so few economies of scale.

I have been researching a few locations but can't seem to figure out whether the location is ideal or not.

To cut to the chase:Admittedly you’re not in an ideal situation.

Ideally you should be able to determine your target rent by knowing the rental market, looking at the condition of the units and estimating expenses.

Ideally, you'd locate a property in one of these neighborhoods for a discount to maximize ROI.Average 2 bed rents for: Bridgeport/Armour Square $1200Logan Square $1500Avondale $1400Humboldt Park $1100Pilsen $1400My suggestion is narrow down and crunch numbers for your cash on cash return goals, cash flow per door, expenses, purchase/rehab budget.

The top realtor will do all the above and understand their client's skill level and financial situation and break down deals that best fit their client's needs.  

As far as appreciation goes, depends on where you buy and what happens in the future, but LA would be a safer bet for meIf you find a place in LA that fits your budget, you love it, and the math works, go get it. maybe you'll find a SFH with an ADU - or opportunity to add one.