Can I start up an LLC with the wife and justify the business expenses of managing the old property?

My strong advice is to carry as little debt as possible, find the locations with strong future job growth, and buy at the lowest price possible - never assume long term appreciation as a way to justify paying more.

I don’t plan Use excel enough to justify the hrs it requires to learn if I don’t need to, but I will if that’s my only option. 

@Tyler Howie I concur with @David Marshall, I keep looking south of Lewiston and just can't justify buying down there when I can get a better return on my money up here.

Just takes a couple comps, and the contract justifies the value.

Spoiler alert - it's going to be hard to justify keeping the existing property based on the tax implications if you had a lot of appreciation. 

Yep you can still utilize an FHA loan. there are some guidelines and the lender will ask why you are moving from a Single family to a multi family for instance, but with the proper explanation you usually can justify it. 

Thanks for the advice and taking the time @Bill Brandt  I think the idea is we would rent out that house for the following 3 years as well, which would justify things more. 

Austin is always a hot market, but idk it seems like maybe a missed the party on that, it’s very expensive there now and I make the least amount of money there so it’s harder to justify.

Most duplexes that aren't in need of major cosmetic and functional repair are creeping towards the 400-500k mark and I'm not sure the rents justify that price point.Ideally I would like to have rental property as part of my portfolio as diversification and of course the cash flow is great too.