Real estate can be scary to jump into but VERY rewarding! 

If not, all I see is risk with no reward.

Flipping is high risk and high reward.

Meanwhile, the more partnership-heavy investors often experience setbacks but use the leverage of partnerships to rebound.To me, partnerships increase both risk and reward.

Will this be a more lucrative long term move than just buying an existing duplex or is this needlessly complicatedThanks It's needlessly complicated.

Never fully trust anyone that isn't willing to share the negative aspects of all this.As I'm sure you've experienced, this can be a very rewarding path to take and depending on your grit and determination, overcoming all the pitfalls are well worth the effort.Cheers and drive safe!

Bought an old property (in NJ) with one existing floor.

I find that less than 1 in 10 really do much about it, but it's very rewarding when one hits that million dollar mark.

Do you think risk & reward always needs to be symmetrical? 

@Wynn Williams You could buy it subject to the existing mortgage, but I'm hearing about those due-on-sale clauses being exercised often now.I would structure it as a lease with an option to buy.