Text me the details, ill come by tomorrow!

Zillow estimate = $250kRents = ~1200 per unit = 2400Owner owes bank about $150k - Can i negotiate with the bank?

Details on the Property:1940's rambler, 1100 sq/ft, near NDSU in Fargo, ND. 2 bed/ 1 bath - attached garage converted into living space years agoHome has been vacant 8-9 years. 

I know this is a loaded question, but does anyone have any estimates or good resources to look up what part of the real estate cycle my area is in.

Details here-https://www.biggerpockets.com/renewsblog/2015/12/0...For rental properties at least.

Are they some sort of magical unicorns who speak planning and contractor-ese and will provide a detailed, specific, and GOOD plan?

Get 3 quotes if you are inexperienced in estimating construction costs. 

Here’s a link to details: http://www.loopnet.com/Listing/815-9th-Ave-SE-Rochester-MN/8804533/.

.- Duplex. 3bd + 1ba, 1bd + 1ba- Somewhat dated, could use cosmetic updates but otherwise appears to be in good condition- $129,000I've spent some time looking at rental listings in the immediate area and my rough estimates are that you could get at least $500/mo for the 1bd and $1000/mo for the 3bd for a total of $1500/mo before any updates or renovations.

@Jonathan R McLaughlin Thank you for such a detailed response, and very good point about the not apologizing aspect.