@Joshua Logan I'm out of the Mankato area, we invest in Section8 apartment buildings (Project Based HUD properties).

Consider consulting with a real estate professional or financial advisor to help make an informed decision based on your individual circumstances and goals. 

Establish the value based on your own market analysis.Your property is a rental once it is placed in service - typically the date it is advertised as available.Check your home owners insurance policy and make sure it covers rental operations - I expect it does not.

At this stage, based on your post, you would wait until its listed then contact the listing agent to purchase it.

Make your offers based only on what works for you, not what it takes to get the property. 

We have about 50 properties under management in Kissimmee and Davenport, and can definitely help you with a step by step guide based on our experience.

We may need to make another trip to go check that market out.No worries, if you ever want more advice on the market , I am happy to offer some of the knowledge based off experience.  

I'm Texas-based as well, in Austin. 

Based on the limited info - back of the napkin says not to go any further on the duplex you're looking at unless you have deep pockets to carry it while you wait for the capital gain.

FSBO, expired leads, local homeowners)- Nurture your network consistently via phone, email, text, in-person events- Set as many appointments as you can to get in front of people and explain your value proposition... then go back to nurturing the contact until they have a question or need something from you- While doing all of the above, try to avoid/ignore the 'shiny objects' that are sold to agents on a daily basis.