Before I retired, I was a broker, residential/commercial RE appraiser, expert witness in State and Federal Court, and a professional RE investor.

I keep hearing the market will be tipping soonish since the government plans on raising interest rates even higher in an attempt to even out the market. 

A "conventional" loan is one governed by Fannie Mae and Freddie Mac (if you recognize those names). 

Hi BP,I'm about to close on a duplex in Rochester, NY and was wondering if the community was aware of any government programs to make the duplex more energy efficient.  

:)    I should have also explained the context i'm in (Shanghai, China) where projects of your size are not difficult to get due to effort or mindeset, government regulation simply wouldnt allow me to buy. 

My fear is their governments don't have the vision.

As long as you are permitted to divide the land into the parcels sized as you imagine you won't have any problems.As a clever strategy if you are permitted by your local government to divide the land, locate a builder and ask him to partner in new construction. 

It defers it indefinitely both on the federal and state level in all states but PA. 

The 1065 didn't do much for them except satisfy a check in the box for the filing requirement because they formed (and operated) a multi-member LLC, which is (by default) a partnership under federal tax law.You can share profits and expenses on rental properties without forming a partnership.

Aside from my own home (near Federal and Evans) I can't afford anything else in Colorado.