Could any of you offer me some advice about buying a duplex? there is a lot to read her but id appreciate it..

my first concern is that i work as an over the road truck driver and so im never home. i would be relying heavily on a property manager. would i be able to pull off owning a duplex if i am only home once or twice every two months?





second concern is that i know the area in which i plan to buy (Cleveland, OH) but im not sure if i know it well enough to be purchasing a home there. would you considor knowing the area to be vitaly important?





third concern is that from looking on remax.com most of the homes in the Cleveland area in my price range just dont look too attractive to me. they are older looking houses but thats the way a lot of the houses are in Cleveland. it just concerns me buying such an old house.





okay now for the important part, MONEY





first an explination: i work as an otr truck driver but im taking classes online and i expect to finish my degree 3 years from now at which point i will move home.Could any of you offer me some advice about buying a duplex? there is a lot to read her but id appreciate it..
One item not mentioned is whether you are paying cash for the duplex or borrowing money. Additionally, you did not mention the purchase price of the duplex. However, since most people borrow money, I'll present some additional information for your analysis. I will also make an assumption for purposes of discussion. I will assume that you borrow at least 60K on the property and have a 30 year loan with 6.5 to 7.5 percent interest. Then, depending upon the amount of escorw deposits required for taxes and insurance...you can expect a mortgage payment of around $ 500.00 per month. This would result in additional cash outflows of approx 6,000 per year for a total of 15,000 approximate cash outflow. Even if you add back that interest computation made in your original analysis and even if maybe your miscellaneous estimate is high...I still think you don't cash flow too much extra cash to your bank account in this 2.5 years. That said...it could still be a winner...if the real estate market in Cleveland grew substantially in the next 2.5 year. Then you could sell it for a good profit and (after paying real estate broker and closing closts) maybe add to your bank account. Personally, I'd not make the investment...but instead put back money every month from your otr income to accumulate your downpayment and closing costs that you will need to buy a house when you complete your degree. Then after completing the degree...AND obtaining a job with that degree; start looking for your house. Hopefully you will have acucmulated enough money to buy it and should have a good income to support the monthly payment. Good luck...whatever you do.