If you're a serious investor you should be working with a buyer's agent, who can provide you with projections on what to expect for rent given the condition of a property.

So, the issue comes down to what condition the house/duplex fill in the blank is in.If it is a turn key I keep month or 2 plus I start the tax fund right away and heloc for big ticket items If I get on a rehab roll/stock market sale, it goes down to the numbers above if not this numbers go up.Right now, the stock market is having a sale I am nibbling at it.A house that is rough shape you will need more CASH, you will be doing repairs a lot.

How old is the building and what condition is it in?

It will depend on the property condition, your financials, your plans and the appraisal in terms of how much they will loan.

@Dave Skow does washing Appraisals hobby the conditions of the property like California or more off the square foot like in the south ?

So it's definitely possible to be successful starting out with a property like this, but you are signing up for the School of Hard Knocks approach vs. getting your feet wet with something in better condition.  

the details and conditions of how things will come together may come at a price... again i didnt get a chance to get close to my 2nd until i handed him a check. you know there are people who come out of pocket for mentorship who are very successful and swear by it. 

The best option is to put in an offer with conditions which locks you in, but also gives you an out if the conditions aren't met.

Property can rent for $1,250 - $1,400Property is in good condition but it needs cosmetics.

In fact, sometimes local market conditions mandate looking elsewhere.