Again I'm commission only, but I recently heard that FreddieMac/AnnieMac changed their lending guidelines for self-employed and that 1 year could also be sufficient. 

I imagine that will eventually change but I'm hoping they don't go off the deep end like Seattle.  

For example, instead of projecting 5% rent growth, lower it to 2.5%, or instead of projecting a sale at a 5% cap rate, change it to 6%. 

4) Does the fact that it's a duplex change the calculation of $ sq/ft?

Does that change things?

Also, insurance wise, the buyer will still pay, but I will be there first beneficiary in the case of a claim until the contact is fulfilled, and that will cause me to receive all copies of insurance bills, changes to policy, etc.

I do not have tons of experience with real estate investing but I am working to change that.

Tax benefits are great but may change at the whim of Congress. 

Essentially this tells you the return you will earn if you buy this property un-levered (no debt/all cash) and make no changes to the property.

Hello fellow BP members, id like to  offer up my business plan for review buy seasoned investors, please take the time and comment with any suggestions and remarks.