Now, the current owners spent 30K to finish the basement professionally within the last year.

Are you able to secure the building permit while under contract in the current owners name and then have the permit transferred after the settlement takes place?

I think relationships with the owners are very important as well - the more you can developed a relationship with current owners the more likely they are to "help" a newer investor as they feel (in part) like they are paying it forward.

There is also an opportunity to target the rental market with renovations that cater to both families and young professionals given its large, diverse population and proximity to educational institutions.Enhance properties to appeal to families and young professionals, focusing on durability and functionality, such as open-plan kitchens and multiple bathrooms.Example Investment: 130 Benedict Ave, Syracuse, NY 13210130 Benedict Ave, Syracuse, NY 13210 | ZillowLocated right next to the Syracuse University, and currently rented under market for $1,200 a month.

Currently living in Madison but looking to invest in the Milwaukee area as prices aren't as crazy it seems.

I am currently looking to buy a 2-4 unit building in Fort Lauderdale area.

Do we, for example, sell our current SFR and put all/most of the equity into a down payment on the duplex and have a lower monthly mortgage payment?

You need a quality realtor that can advise you on current value and after repair value estimates.

Currently I hold a few rental properties in California, but I am looking to expand out of state mainly because of the cost to acquire new properties in California has made it difficult to grow here.

Some title insurance policies require a current survey, but if this is a re-insurance policy (with the seller's title insurance company) then you saved yourself (potentially) a lot of money.