It may sound excessive but don't leave any stone unturned.

Then take the excess 44k for reno.

-If you are moving to an area where your BAH will change on the positive side, maybe find a roommate (or several) and rent out a place together and use the excess BAH to help cover expenses.

At that point, any excess would be used to fund the next property.

My 2 cents :The seller is looking to get a premium in excess over the cash flow value due to the high value of the land in that area  Those particular duplexes were built all over town in the early 80s by I believe NPCMy guess is the agent probably has investors on his buyers list lined up by the lack of marketing i.e.  

1/1's turn over a lot and you have excessive re-tenanting costs.

Globally, China is experiencing its own credit problems in the housing industry and  it also has excess inventory.  

Our members include publicly traded real estate companies, real estate investment trusts (REITs), private companies, pension funds, banks and life insurance companies with investment real estate assets each in excess of $100 million.

They were able to bid the entire amount of the second + the amount due on the first because anything in excess of the first goes back to them, I guess.

., Repairs)$1226 NOI$838 Debt Service ($126,000 @ 7% PI)$ 95 Mortgage Insurance (Loans in excess of 80% LTV)$293 Monthly Cash Flow ($73 per door, which is below the $100 u want)$ 95 Monthly tax deduction (assumes 28% tax bracket)$ 81 Principle ReductionTotal Cash investment = $14000 + $4500 Escrow/Impounds = $19500Total Return on Investment = 23% (Net Cash Flow + Prin.