Old post, but in the short-term the world changed with the recent passing of HR 5376.

Ive owned a 3 family in Fitchburg MA for 4 years that has done exceptionally well with it, living for free in one unit for a while and constantly upgrading the property over the years.

However, it is an old home and you are thinking about major cosmetic upgrades too.    

I just went through this last year, but after 20 years. 

Replying to this thread that’s 6 years old to see if anyone has seen an update in the law? 

I walked to the house and met a man who says he was cleaning out due to the loss of their mother in some few weeks back.The guy told me she is  left with 12 years mortgage on the property to pay the bank.

The reason why I ask is because I'm sure some people are going to say it is critical to first build a network but I find myself doubting myself because why would someone listen to advice from a 21 year old who has never bought a deal before?

Nobody ever went broke over a duplex, I know this now,  but I have to admit I had some serious doubts about this when I started 16 years ago, I bought every course I could find, already on CD's, this was post cassette tapes lol, and I paid RichDad Education for a one year coaching program (turned out my coach was a girl in a call center without any actual experience). 

Long story short, it has been over a year and the project remained incomplete and he walked away with the money.

As the old saying goes, it's better to "get prepared, aim, and then shoot vs. shoot and then aim."