I doubt these foreclosure/quiet titles prescribed by the new law can stand up to appeal and I doubt any title insurance company will issue on these deeds for two reasons:  1.

I consider Vegas a relatively cheap market when you consider most houses are less than 20 years old, have property taxes around $1600 and insurance under $600.

What are the fixed expenses (taxes, insurance, etc.)?

It seems like it has the potential to be a decent house hack where I can live in one side and rent out the other side, but I am analyzing it as if I were renting out both units.Here's the overview:Seller accepted my offer of $90,000 (they were originally asking $95,000)Similar sized duplexes rent for around $1,500 total ($750 per unit)The total gross rent would be about 1.6% of the purchase price.I can get a conventional 30 year loan @ 4.5% interest, with a 5% down payment.Mortgage payments with PMI would be around $469 according to mortgagecalculator.org (not including taxes or insurance)Using the 50% rule of thumb to estimate expenses, I might be able to cash flow around $140 per unit.Here's what I found out when I went inside:There are 2 new forced air furnaces.Updated pex and PVC piping.Updated electrical wiring with separate panels.2 old corroded hot water tanks.

You should have an attorney and it should be settled by a title company with title insurance.

Figure rehab and costs based on ARV target.Add holding costs, insurance, realty fees, etc.Work backwards from target.Drop in costs.Rehab.ROI.Etc. 

Is liability and having a good insurance policy the only thing I need?

While also looking for good appraiser do you have/know a good Comm RE Insurer? 

. ;-) We also each have million dollar life insurance policies on us, so we know without a doubt if something happens to us we are not leaving any debt to our son/our families, so that’s another reason we’re all about seizing the moments and having fun family adventures together...now. 

That doesn't leave much for pre-paid taxes, insurance, closing costs, etc. with a $10k budget.