It was very difficult to get any info about the tenants before we purchased the property and soon after we purchased it the tenants in one house moved out.I realize this is a very small sample size to draw any conclusions from, but I guess I want to challenge the belief that it is better for the owner that the tenant not to know who he or she is.

I’m trying to stay remote to this area because it’s my first investment and I want to be as hands on as possible.

They used the system to stay in the property...please don't do it!

For instance, my mom-in-law fell last June,  hospitalized, and stayed with us till 2 weeks ago.

@Quandra Adams - your lender is correct and somewhat incorrect at the same time.  203k's allow for any renovation related fees- such as the HUD consultants work write-up ($400-$1000), draw inspections (up to $350 per and max of 5), title bring downs (typically about $100 per), architect (if your using one), engineering (if applicable), etc are allowed to be financed into your renovation budget. 

I can't think of any scenario where any lender in business (and wanting to stay in business) would lend twice the market value unless they cross collateralized multiple properties of the borrower in the same loan.

I have no landlord experience and know that PMs usually charge 1 month's rent to find you a tenant and of course any repairs or maintenance that may ariseWith the following information, would it be better off to stay at my current apartment and just end my lease when it's time to take an assignment or should I purchase the duplex and possibly make extra income through cash flow and equity but also run the risk of repairs, maintenance, etc?

So if all of that stays the same you’ll still (I think) have 6 tenants paying down mortgage principal (however small to start) instead of 4.

If it is a draw but if they meet criteria I would say it is available the 1st.

It would also provide me a place to stay while visiting my other properties/projects.