Likely neither will post charges.She is on a month to month lease.

She wants options, and is very open to creative, which is helpful.Once we present these basic ideas, we will want to know 1) what does she need right now, monthly, to let us take the property over (and all headaches) and 2) how soon and how much will you need when you make you Tampa purchase.

Found some good contractors, painters, floor installers, that I've already recommended to people and will again if you ask.

Since you are living there, it should be much easier to set up showings rather than a traditional rental traveling to the property.The biggest mistake I have made, and seen other makes, is loosening their guidelines after a few weeks/months of vacancy because they have simply had enough. 

We rezone it for 5k. 5k permit set / construction docs. 350k build. exit price is approx 510k, full return of capital on a refinance within 8 months. super simple. we build around 174 a sq ft and the exit price downtown is approx $250 - $300 depending on neighborhood, size, etc. 

My suggestion to you - Don't buy something just to jump in and have to feed it money every month (ie. negative cash flow).  

Do we, for example, sell our current SFR and put all/most of the equity into a down payment on the duplex and have a lower monthly mortgage payment?

I limit my rentals to two pets and I charge a monthly rent increase for each one.

Also, I don't know if any of this matters, but I don't live there, and I don't plan on living there.As far as using bank statements, that might work, however, the past few months have been grim.

Wayne, You’ll also have to take into account the monthly HOA dues into the DSCR calculation.