Plus managing tenants is a bit more time consuming with this model. 

Quote from @Virginia Frost: I'm always looking for a good opportunity but honestly my next purchase will probably be something that I don't have to do a total overhaul on.

Also, the MLS/listed scenarios allow for more favorable settlement terms (the opportunity for more thorough diligence and deal analysis & ability to line up the best financing). 

With a duplex you get more control, maybe more write offs, but obviously more hands on and the potential for higher vacancy.

Stop making Ira contributions as you’ve learned real estate is a better investment.

You might also want to do the math on a convention loan instead.

., so you can't get financing on a condotel most of the time.

Hey Paul,This is a great question, and it’s smart of you to dig deeper before trying something like this.

On a purchase, yes.

there is no bank, no mortgage, and therefore no due on sale clause.if there is a mortgage in place, and you take the payments over, this is typically referred to as subject-to or sub2 and is much higher risk for everyone involved.