I would look for an experienced agent of my own who understands what is standard for your market.

I am also active with Flips and own a few 4 plexes...Im a licensed NM Realtor would be happy to help set up a few searches, look at properties (Virtually as well), and tell you more about specific areas of town with the pro's and con's of each. 

I own a plot of vacant land in kern county CA.

If I live a busy life and don't have the time or care to invest on my own, but want to put, lets say $200k to work, is a 15% cash flow return reasonable? 

They can include foreclosures, short sales, or properties owned by motivated sellers.

I own a 3 unit in the area but a different street.

I manage and own some STRs. 

After talking to another family member they said they would be willing to go in on the duplex and offered to pay the $40,000 down payment and help with any repairs but they want to be "partners" or "own" a percentage of the duplex.

- If so, 1031 into something bigger and easier to manage and then when you pass, the inheritor receives your property(s) at a stepped up basis - subject to Inheritance Tax limits.Otherwise, sell one every 1-5 years when you need the cash, so you can plan expenses to offset capital gains.14 properties - presume these had to have been single families.Oh, I'm modifying the original post to mention leaning toward creating a trust which we manage..so we would own very little yet manage the trust which owned investments and such.Here is what I understand/misunderstand (better or worse) on moving every 2 years (as we are open to that albeit pia.) • Multi-unit would only support a %, so a quad would 25% and prorated over all years of ownership....witteling advantage to not worth the effort. • Single unit properties get pro-rated.

I own 12-doors there and help others invest there for a living.Of my 12-doors, 4 of them are comprised of two duplexes.