A duplex strategy is a low-risk entry, saving on living expenses.

A scenario like that would likely result in getting your entire investment back upon refi and also a nice cash-flowing rental to manage.   

I am also a project manager and a architectural designer for a real estate developer in NYC. 

Diversifying geographically can also reduce risk and increase long-term returns.For example, there are several markets across the U.S. that are ideal for new investors because they offer affordable entry points, reliable cash flow, and strong economic fundamentals.

I have some flexibility but rely heavily on my team for admin work and the day-to-day operations of property management.

To rent the home, I would lose about $2,500 per month (based on comparable rents in my area, property management fees, etc).Both options loose the same amount by roughly 2 years, and by this time, I still will not have built up much more equity in the home to make selling it a break even unless there is price appreciation by then.My dilemma is this: I speculate that my home will not appreciate much in the next 3-5 years due to the rapid pace of development in the surrounding area.In 5-10+ years, maybe, but by then I'll have bled $150,000 - $300,000.I have thought about this a lot and feel that I mar'-too close to the problem to see the best solution.

Something many new investors don't think about is that property managers usually negotiate volume discounts for some of this stuff.

In real estate, I don't change locks, screen tenants, evict tenants, inspect properties, or finance my deals - I have property management, property inspectors, and mortgage lenders that do this for me (outsourcing).

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.

That means learning how to vet a manager.