I would think, on the other hand, those effected properties will have a signification price / value drop so you might be able to get some from those who just don't want to deal with that or just walk away.I'm a long term investor (10+ years) so i would worry about global warming, sea level rising, stronger storms and more flooding so i would probably avoid areas that was historically effected or might be effected in the near future.

I’d like to start with buying/managing our own residence and branch out investing in others from there but my fear is that we’ll be tying up all of our capital and won’t be able to start investing in other properties for a while.

There could come a time where you do want to sell, but that tenant’s option could tie you in knots if not done properly.But - if this person wants the property, why can’t he buy now?

High achievers always move the goal line out anyway; so, tying your happiness to the end result rather than daily action can result in unhappiness along the way.Regarding real estate investing, add value...it speeds up the wealth building process.

@Brian, and that is a perfectly reasonable position to take, in my situation I'm in NYC, a very tenant friendly state, it's not unknown to be tied up in court for a year trying to evict a bad tenant, it happened to me, took eight months to get him out , situations like that can quickly mess up a positive cash flow, if I had a mortgage on that property I would have been in bad shape.

I am looking for advice and knowledge on how to go about getting into a second deal with all my funds tied up in this duplex currently.  

To be honest, that giddy energy hasn't diminished one tiny bit and has only grown stronger.

I know some of you are thinking I am wasting all that equity I have tied up there, and I will return to that topic below.I used the remainder of the money I inherited plus some savings of my own to buy another place in 2010.

Most people don't like to tie up their money in a relatively non-liquid asset for 30 years for 4.5% IRR.

However, now most of my cash is tied up and I'm probably a year out from being able to refinance anything.