OK SOI have recently run into a similar issue... my issue being that I have 5 loans and of those 5 I am trying to do a refi cash out on a duplex...well when i bot it it was a single family non owner, that i coverted to a duplexSo far ive learn this:There are banks that will do a non owner HELOC type of loan, and i think rates are comparable to a non owner financing...

If so, how do you feel it compares to the standard percentages for planned repairs and/or capital expenditures? 

The episode it called, "Turnkey Real Estate Investing Explained".There I explain what those terms mean, common pitfalls investors make, and a 5-point system to help you compare turnkey providers.

It is a 2 family so it's value is really based on comparative sales, not so much in it's ability to produce income.

you can absolutely get a lot more house for your money in Sorings Compared to Denver.

The home prices were insanely cheap compared to CA (where I'm from and currently live), so it seemed like a great plan.

To me, it seems like you are comparing apples to oranges.

You would have to compare it to other ones for sale in your market which sometimes can be impossible.  

To your successJosh  What kind of properties are you buying at a 10% cap rate and what is the market paying for comparable properties?  

Second choice would be #3 to rehab it if there is enough to save.2nd question - see what some similar properties have sold for of similar size and amenities and compare them to the price he is offering.