New to This: Is my thinking sound?

[Jim Piety]

Hello,

I've just moved to the Hartford, CT area and am looking to begin investing in real estate. With rent so high, it makes more sense to purchase a house even with insurance, taxes, and other maintenance/upgrade expenses.

I would prefer to find a duplex so that I can live in one half and rent the other. However, it seems those deals are tough to find. So, if I look at single family homes, I would want to buy a fixer-upper and remodel it to increase the home value. Then, in a year or so, rent it out and move to a different home. 

Is it that simple or are there other strategies I should consider?

Thanks for any advice or help you can provide!

Jim