You could also look into wholesaling, but that's a lot more hands on in the sense you have to really put a lot of time into searching for deals, and networking with people.

Neighborhood is B-/C+.  

If you're looking to pickup flood properties you should narrow your search by at least half to exclude a lot of cities like Bastrop, Bryan, College Station, etc.

It also may help to have a parent on board to make sure you don't encounter any weirdos during your search.  

Then you're paying highest prices (especially in this market) for a home that the value can not go up in for things like repairs, raising rents (on commercial) and turning a B property in an A neighborhood into an A property in an A neighborhood.

So to start off, I want to house hack and move out of my parents house into a duplex that's being sold in my neighborhood.

I think sending mailers to a specific group of sellers will be the best way to find off market deals with my criteria, and I am trying to learn the process and would love suggestions on search criteria that have been helpful when creating sellers lists, and what list broker you found most helpful.Oak Park, ILJefferson Park, ChicagoWicker Park, ChicagoBucktown, ChicagoLogan Square, ChicagoHumbolt Park, Chicago (nicer east pockets by Wicker Park)Hazel Crest, ILHomework, ILFloosmoor, ILTinley Park, IL"Northwest Indiana".. not that familiar to be honestWhere in greater Chicago am I skipping?

My neighborhood(Clinton Hill) is hot right now. 

Many didn't even try to short sale because it was of little benefit to them, and this resulted in entire neighborhoods being nearly vacant.

If they don't like my tenant, am I going to spend another two months searching for a new one?