My idea is that the 5 of us would save individually and all pool our cash into a sizable deposit.

The market is better in the lower rent ranges as the pool of potential renters is larger there. 

Check you pool of close friends to see if there are any agents or if they have someone in their family as agents. 

When Wall Street started to heavily securitize mortgage notes from 2001~2007, they were put in pools as investments and registered with the SEC.

Much more than that and your are marketing to a much smaller buyer pool.  

I am looking to start a group with newer agents in the area so we can pool our knowledge and shorten the learning curve so we all can close a lot of sales so we do not become statistics haha, hit me up privately if you are interested in networking and learning together.

Condo associations generally take care of common areas like landscaping, pool areas, and routine maintenance/repairs of the exterior of the building.

And on a personal note, I used to rent a nice house, good hood, pool etc in LA.

@Jd Martin after reading what you said I understand how vague my question was, I apologize.I wanted to live in the first duplex until I get 10 units or enough to pay for my dream home which is modest because I was raised in such a ugly and poor place that just having groceries is a luxury to me.I don't plan to have kids so having a small house with a pool and low maintenance would be a hoot and a half.

Factors include: neighborhood, size, amenities, school districts, age of home, SF, number of beds/baths, and all kinds of other features that may be unique to your area (pools in Florida, for example).