Advice for first property

[Bryan Gregory]

Hello! My name is Bryan and I’m looking to get my first property. I am currently in school and I just got married this last summer. Right now my wife and I are living in her parents basement to save money on rent. Rent is around 1200 a month where I go to school. Instead of paying rent and moving out I want to buy a duplex near where I go to school. I’m leaning towards buying a duplex, living in one unit and renting out the other so that:

1. Living in the property I only need to put a 5% down (I am young and very poor so this would practically be my only option)

2. It will eventually generate more cash flow than a single family dwelling

3. More leverage than a single family dwelling

I guess my main question is how much $ would you guys recommend I keep as an emergency fund in order to cover the upkeep or vacancy of the property?

Any other suggestions or advice?

Thanks!