Rents are about $1200 for a two bedroomWith a mortgage I can pay on my own, even if I lose both tenants, so up to $2000 per month in total expensesI want to ideally find the ugly duck in a cluster of nicer complexes, so, a property that is livable, but where I can add value with some light of medium remodeling and beautification/upgrades.

Thank you, Tim.I was warned by both my inspector and the mold specialist to make sure that the owner does the repair work before closing.

Inspection by Sec 8 to pass a unit for them can sometimes be like jumping thru hoops.On reinspection for next year if the same person is living there YOU go in and do a preinspection, you bring light bulbs, exterior light bulbs, you turn on each light to make sure they function that is part of the unit.. not lamps.. they will fail a unit for a burnt out bulb.

Some buildings have a fifth meter for the owner if there are items like exterior parking lights or other things that aren't tenant specific for the owner to cover.

I agree with the horizontal siding.. light/earthy colors will make it look great (keep the rock bottom).  

Hi All,Posting this in light of the BP article sent out today "An FHA-Financed Duplex is an Ideal First Investment Property: Here’s Why"So I already have one duplex. 

I looked up the zoning and it is zoned light industrial.

The expense load seems a little light, but it sounds like a great opportunity!

Depends on the culture ... sometimes a red door means something MUCH different ;-) Maybe a red light illuminating the red door?

We didn't do anything like install a hot tub, fancy lighting, fancy bidet, etc.