Nope......i heard of it on a podcast though.i actually have studied banking and economics for the last year and a half.

I actually went to a REI meetup yesterday, and I was able to find a lender to help me out.

There's actually some deeper nuance here than just the holding period. 

You can't really know what to do until you know who actually owns the property and if there are any pending lawsuits. 

@Emeka Okeke, the biggest thing is actually doing it.  

This is a numbers game so you may have to take an aggressive approach towards negotiating several deals before one of them actually works out.

Fannie Mae will allow you to transfer the deed to an LLC if you decide to try to go the conventional route, but the loan would still be in your names and you'll need to pay a title company a second time post-closing to do this  for you. 3) I can't speak for the area so no comment there4) If you're self managing, make sure you find vendors you can trust in the area since you won't be able to easily verify if an HVAC guy, plumber, etc. is trying to rip you off and tell you to buy something you don't actually need. 5) Make sure you have clear alignment of goals and a clear operating agreement that spells out what to do if those goals start to not align in the future since you'll be jointly obligated to these properties. 

Stay away from the top 2 banks, they can take months to actually finance you and saavy agents wont accept a preapproval from them because they can take forever. 

What Actually Works:• Ask questions• Understand their “why.” 

I actually just bought a duplex that was on the market last month in cleveland.