New and Wanting to Learn w/ Real Deal

Hello BP community!

I'm as new as they get. I heard about BP Christmas day and have blasted through 30+ podcasts and read Rich Dad Poor Dad (as required by RE law). I'd like to learn deal analysis and would like the community's take on this real deal. 

$355,000 duplex. 2 bed, 2 bath in each unit. Currently renting for $1,250 and $950 each.

Total expense are $3,650/yr for water, taxes, ins, etc.

Owned by broker friend who would waive their closing costs. 

There is potential for a minor renovation that could increase rent to maybe $2,600 combined based on comps. 

What are the good, and bad here. How would you analyze this deal and decide to either go through or not? Living in one unit is an option. 

Thank you everyone for this learning opportunity!