Assumed purchase price at asking, got the rent roll from the listing agent, currently rented 0% vacancy, and made some assumptions on taxes, owner paid utilities, etc.

Unless you are local or have ties there you can replicate what you can accomplish there in many other markets, especially if you are just buying based on price and rent.

We have found homes that have basements converted into apartments, which we could rent out for income and have also found duplexes with one unit occupied.

If you aren't doing this with an LLC or other company, then the money is "still all yours" - you can freely do as you please with those funds (once the rents accrue enough for you to have a comfort level).I would suggest you contact a good accountant (CPA) knowledgeable in real estate matters to assist you with starting up your accounting system for this rental.

Newbie question when it comes to renting.

My strategy is to buy a value add primary and then rent out after a year. 

I bought a 2 family back in 2022 I rented out the first side right away and then fixed the other side over the next year.

I am currently renting one bedroom to a tenant.

I have House currently listed for Rent at $1,799.Looking to see how long homes stay on the market.

Still active but the job market is strong that rents continue to rise.