Hi Ryan,I personally use a slow and steady, more conservative, approach that I don't see/hear many people talk about or advocate.

Regardless of what is going on in the economy, if you overestimate the value of the property when the rehab is complete AND blow your budget you will lose money.ALL that matters is margin.

I was able to negotiate with the lender for a 50% of the rehab budget as an unsecured loan to help cushion the blow of the substantial repairs. 

My returns will blow the doors off any Notes.

They could be blowing smoke or telling the truth.

Put a blow up mattress in the place or get a hotel.  

Lets hear real life stories here people... don't just be blowing smoke lol. 

I'm an advocate for investing in more than one thing because it's not like betting on black or red and then you get one spin; in our game if you bet on black and red then you can take your profits when red hits (REI) and later on you take you gains when black hits (Stocks).Tyler

You have actually answered your own question here 1) You indicated that there's a strong demand for duplex, also anything close to $270k gets purchased with no contingencies 2) A very strong rental market While I don't advocate negative cashflow but David Green has somewhat changed my option about it, especially in a situation like this, if you break even on rent, and you have equity personally I would not pass up on this deal, however, i must warn you to include CAPEX and vacancy and maintenance in your numbers 

Housed blow up, YES blow up because there was a meth lab in the house.