The wisdom of that tradition saved me from making some very serious life errors when I lost my own parents, and not following the tradition caused me additional grief.Take some time now and don't jump into anything.

This caused me issues & delays with the refinancing not to mention if I had just wanted to hold the properties without mortgages and the lender died I would have had major issues.

Socialism as far as I'm concerned...

What concerns should I be aware of that are common with duplexes?

One concern I would have is the durability of those rents.

@Manny Cirino it obviously sounds like a procuring cause case....and you should entitled to the commission in the contract plus you have an expiration clause....might be worth it to legally receive your due commish!!

Anyone else concerned with the debt crisis?   

If you actually managed to get the rents your hoping for then 260k but I wouldn't put my money on it.6) your insurance is going to be closer to 2500-3000k7) i very highly doubt you will get a 30 yr note on this property.8) you might as well factor replacing in the roof into your purchase price cause It will need to be done immediately9) I think your capex allocation is super high, especially if you plan on doing the rehab correctly upfront.

It sounds like you are looking for someone that has experience working with investors, maybe even is an investor themselves, that can help you find some properties that aren't a tear down, but also aren't priced just under retail cause all they need is some cosmetic fixes, right?

Im less concerned with actual areas and just more interested in trying to figure out the best size of the property as I always hire property managers.