I’m looking to purchase a duplex in Charlotte, with one unit being turn-key and the other in need of repairs.

Being out of state, you will learn all but bad things of the process and make you think if you made the right decision.You have to start low and close, meaning trying to house Jack locally is the best.An FHA loan requires you to live in the property.

Did you build the building and rent it out and then either own it for a year or two, or an offer or a problem come out of nowhere when you had intended to keep it as rental property for years?

Hey @Katie Williams I've been using Innago for several years now and they have been amazing when it comes to managing my rental properties.

I have the 2 units already done with separate entrance (utilities are not separate). 

I just keep looking for the YES 😁.

They handle a large portion of the management process but do leave some tasks like maintenance up to you.2. iTrip Vacations Indianapolis:iTrip offers a full-service solution, including dynamic pricing, guest communication, and property maintenance.

I am not a financial advisor and not giving financial advice.Reading through your post, your concern is risk management versus paying down debt, which might be a solution.1.  

Most people will tell you that your second choice can't be done, but the IRS has issued two (2) Private Letter Rulings on point where they did allow the taxpayer to build on property they already owned through a 1031 Exchange. 

As a general contractor, I have a strong understanding of the buying, selling, and financing processes, which gives me an edge in evaluating and improving properties.