Last month, my wife and I purchased a fantastic duplex in Madison, WI, for $400,000 using an FHA loan.

My husband and I got started with a duplex, and since then, we’ve purchased a 5-unit and a 10-unit commercial property—without much experience or a mentor.

If you have less money than will need to look into retail condo investing and mom and pop type stuff.

some more info is needed. is this a condo that you own in a condo building, or is it an apartment where you are subleasing?

I am looking to invest in single/duplex/triplex/qudraplex rental property. 

We have a duplex with an extra flagpole lot that we are hoping to set up with an ADU for short term rentals.

Sounds like lower non qualified / qualified ratio is the way to reduce CGs and depreciation recap.Furthermore, 1 property is owned by my elderly mother and can future reduce CGs via step-up at passing (assuming current step-up tax law)Property 1 (CA Condo $800k FMV, $450k basis, 10 year owned as 2nd home, wife+I are owner)Rent 2 year in CA (24mo rule), 1031 to WA, rent 1 year before converting to primary residence for 5 year before sale.Is qualified use years 10 (2nd residence) + 5?

I have 2 duplexes right now and looking to add more to my portfolio.

Those markets offer affordable entry points into duplexes or single-family rentals that can generate positive cash flow.

Quote from @Evan Price: I purchased a duplex in the Mt.