Buying a duplex with my sister for a first house a good idea?

[Miguel Matos]

So I have been living abroad and will move back to Florida in about a year from now. I plan on living with the parents for a year to save up extra. By then I should have about 30k saved. I don't want to live with my parents for more than a year so I want to get a house. I talked to my sister about the idea of buying a duplex since we would have our own separate living spaces. She is also looking for a first home within the next two years. We both agreed we would be able to cut the costs down and get a home in the nicer areas of Orlando.

My sister is a TV actress and might move to Atlanta in a few years so she said she would rent out her half if she moved. I told her I was planning on doing the same once I get more properties. I also mentioned the possibility of buying out her half a few years down the road if she moves to Atlanta.

My thinking behind this to get access to a home quicker than I normally would be able to with my own money. And while we live there, I would save up and continue buying out rental properties while keeping my living expenses somewhat on the cheaper side. When I decide to finally move out, I would rent out my unit for extra cash flow. My sister isn't looking into real estate for business purposes. She just wants a place to live so I could probably buy out her half if she moves out.