Before anyone jumps 3 feet backwards it is not our first Flint purchase so I am aware of some of the downsides to being in this area.

I am aware I can pay myself whatever I choose but...I am refining my 'systems' and would like to acknowledge my hardwork etc in order to keep growing and stay motivated. 

There's also another perk to owning your own home I didn't elaborate on: A 3% annual cap on property tax increases because of Save Our Homes.

The existing quad is listed for sale at $1.1M and a 5.3% CAP.Commercial multifamily in the area sells at a CAP rate of roughly 4.5%.The existing property is zoned to allow for 6 units and has available land to build an addition duplex for ~$150 per sqft.Assume 1000 sqft duplex at $150,000 and we’ll build that into the loan.After expenses, the additional units will each increase the annual NOI by $14,400 = (Gross rent – operating expenses = $600x12x2).Purchase Price  $1.1MMConstruction:  $150KLoan amount: $1MMTotal for project:  $1.25MM20% down: $250KPre-construction NOI:   $58,300Post construction NOI:  $72,700What is the estimated property value after construction?

Long term wealth, increased month to month income, diversity? 

Find a house in decent shape and focus on the areas that will increase the value and appeal to people simultaneously. 

In some cases i have seen rental prices going up after floods as many units are not livable or need repairs so if you end up with a property that was not damaged, you might see some short term higher demand and price increase.

Long term tenants can be a major pain when it comes to increasing the income on a property when renovation is necessary.

Ask them what area of town they believe has reasonable prices for properties, isn't a war zone (or would be good for a first time land lord), and is trending in the right direction. 

You'll increase in speed as you get better managing your properties, setting rent rates, finding deals and learning the systems.