From a wealth generation perspective the duplex has been great, but it's preventing us from buying a new home for ourselves.I can't be the first person to have run into this problem.

Updating entire house, fresh paint, flooring, adding half bath, finishing basement.

Needs some work, dated bathroom, very plain)   I am hoping my new LVP wood flooring, high definition laminate counter tops, new vanities, fresh paint, and more attractive exterior bring me higher rent.We are currently rehabbing with the help of a skilled worker from a big contracting company taking us on as a side job.  

Also, keep in mind that when an accountant talks about gift money, they are, thinking about it from a tax perspective rather than a lending requirement.

@Tim McSherry I just got my real estate license a month ago, so it's still fresh on my mind.

Built in late 2000's, town is the only one in the area likely to see appreciation and has seen 8% increase in rental rates in the past three years.Although I plan to occupy the property (likely with roommates) initially , I would like to examine both deals from a worst case-rental only perspective because there is no guarantee I will be staying put.

But from a perspective of diversification buying in a 2nd location can make sense (and then a 3rd...).

I second David's perspective - it varies by investor and deal.

I recently discovered bigger pockets and t completely changed my mindset and perspective.

2) Evaluating a marketOnce people are comfortable with a sponsor, they'll evaluate whether the market itself from their perspective makes sense3) Evaluating a dealThe deal itself comes in last.