Eveny other strategy from flips, to notes, to wholesale, only creat chunks of cash, they are not sustainable   Buy and hold rentals are not sexy, but they will produce cash as long as you are alive. 

@Gary Freidman all good points above.The only "good" thing I see about this opportunity is it was built in 1958 not 1900 like most or our duplexe's here are.Other than that, I would highly suggest you pass [for now] and stick with solid SFH 3/1-up projects until you get a better feel of the city.I've mentioned before, that I had several of these at one point and yes, they are VERY sexy on paper until reality hits about 3-6 months after you buy it and realize that the vacancy is very high, it's been vandalized 3 times and the tenants you did final get to move in ended up doing $5k in damage in just 6 weeks before you had to evict them [true story].I work with a lot of investors like yourself that jump in early into a project like this that end up getting burned and it leaves our industry with a black eye.I hope that helps.Feel free to PM with any specific questions that I may assist you with.

I read it first when I was in my teens and plan on picking it up again soon...

Looks sexy in front of my house to boot...

And I realize that paying off debt isn't nearly as sexy as buying houses.

The average cap rate is around the 8% mark, not extremely high like in some areas, but high enough to produce returns in the teens with conservative leverage.

Eventually I've convinced him that if he wants to get this sold at all it has to be in the teens.

By this you may gather that we don't live in a sexy part of town and you would be right.

As @Sharad M. mentioned a 16% gross is nothing sexy in a C class area.If it was solid B class with potential exit strategy of one day selling to an owner occupier than this would be ok.Thanks

I'm a big kid, almost 48 years old, who feels more like 25 years old.I entertain mostly at young teen events.