Hello All, I am just finishing up my renovations to my first Duplex in the Mt Washington neighborhood.

I'm in a neighborhood where some folks don't have the greatest credit.

I would love to own in a nice neighborhood (middle-class).

I understand in a flip 25% to 30% in needed.Recap: Duplex in quiet neighborhood.

But, if you put little down and have unrealistic expectation about rent price and unable to receive rental income in a C or D neighborhood, expect trouble ahead. 

This would be an added bonus as I am more interested in the cash flow from rent.The current deal I am looking atBuilding type: 2-flat with finished basement and 2 car garage (garage is 6 years old).Neighborhood: North LawndaleListing Price: $150K with 2 car garage.Taxes: $3600 per year est.Building condition: turn key.

Are you at all willing to look into other neighborhoods? 

One was actually curved to fit a curved bay window radiator!

If that’s the case, though, the agent ought to have given you a disclosure with the paperwork when you first made your offer— the agent I work with does that, and it’s also in the neighborhood of $300 rather than what you’re talking about.

Plan to do the same to them when lease come up and do the same as previous.3rd Tenant: Owner wasn't clear but I think we might have to wait a year on that one.Anyway, John I agree that a BRRRR strategy would not fit for this project, but what I was proposing was tapping into the equity of the previous property at a years time to pay back my family with an 8% on their money.