I've seen a ton of amazing deals on paper, but when I visit I notice the house is held together with duct tape and it turns out they have no occupancy permit to be a triplex or whatever.3) The fact that it's been on for 6 weeks does tell you for some reason investors in the area are not interested - because in my experience most multi-units have investors crawling all over them on the listing day, but that could be a variety of reasons and honestly I've seen many similar deals in the slopes over the years - only way to know for sure is go see it. 

@Gail Yezombek my understanding is that if you've held the home less than 12 months, it's ordinary income.

Anyhow I've held onto this apartment since then and it's been leased.

I did go to the REIA meeting except for the major one (had other plans already set up) but I did go to the mystery meeting and the one held at Home Depot and they were decent just not exactly what I expected. 

They are held onsite so you get to inspect the property before the auction.

Thank you Wayne.The trustee sale was held by a big-name trustee, so I would hope they know to send in whatever is needed to the irs.

My friend's family is poor but I'm planning on helping him fix that with our business ;)We live in the Daytona Beach area in Florida which as many people know is where the NASCAR Daytona 500 is held along with Bike Week so the housing market is ridiculous here (in a good way)We're thinking since we are both going to stay with our parents well into our 20's we should make our first investment on a duplex so we'll have a great financial boost from 2 units funding us.I just want some opinions from experienced investors on how they feel about this plan.

If my name is not on the Title but I still hold the mortgage could I be held liable for any tenant related issues? 

I held this property for ten years and collected a decent amount of rent.

One unit was rented, but the rents are still held by the property manager, so in 2017 my income was 0.