In this case, we had a renovation loan that required us to identify a general contractor and plan the entire renovation before closing, so we had to move fast or lose the deal. 

Send the existing tenant a letter, with a copy of the deed and ask them to reach out so you can renew their lease, or move on.5.

I plan on building a duplex (so 2 kitchens and 2 living rooms). 

Financial goals: Our current jobs provide for high-income but not a lot of time for active real-estate investing, so our strategy is long-term buy-and-hold with less headache properties.

DSCR is high risk NON/QM so it puts a lot of emphasis on Credit scores 700+ and the DSCR ratio 1.00+.

So it ends up being a win-win for everyone... we have no rental gap, and the tenant still gets part of the deposits back.  

We haven't decided if we want to use it as a long-term rental or flip it, so would appreciate any advice on that as well.We've been trying to read up on how to get started, but have a few questions we were hoping to get help with:1) What are the key things to look for in identifying a specific area to purchase in?

(130-150k range). ( I do not live in NY so primary residence loans would not apply).

Thanks in advanceYour first eviction should be with an attorney so it's done right.When the attorney starts the process, you may find that the tenant moves out or pays the rent to avoid court.

I put 25% down on my first property so I assume I have at least 25% equity (especially since I bought at a great price).