I thought there was a chance that one could use real estate to directly lower their main source of taxable income (such as a w2).

There's a good chance the issue(s) you face has already been discussed and answered.Ask questions in the appropriate forum.

That said, if you can afford it and have the reserves, and more importantly think you have a decent chance of increasing revenue with the vacant units then I'd probably go for it.

If this is a Class A property in a Class A area, you have the least chance of getting a bad tenant. 

If you invest in RE, whether active or passive(management team, syndications, crowdfunding), I'd love the chance to quickly explain the structure and hear your thoughts on what might need to be improved.

I want to minimize my leverage as much as I can for my first one, just to give me the best chance of success.Got it, @Geoff Engel!

If you're in Northern MN, there is a very good chance that the cost to build a new duplex exceeds the resale value, which would be an awful idea to build a new one. 

Chances are it will never get keypunched.  

If we become heavily restricted, what chance does the rest of the DMV have to get their own regulations that make sense?

Quote from @Johnny Lynum: If you had the chance to invest in your first property, would you choose a single-family home or a multifamily property?