Your friends will be scared to come over and you will find yourself living with someone who has no teeth.

@Steven Bond might have new construction properties similar to the one you are under contract on.He's selling them as four-plexes, not condos so that issue doesn't come up.Good luck.

My question is should we break our teeth on a duplex, learning and possibly losing money, on a less expensive property, or buy as many units as we can afford?  

No preinspections, access only by licensed, bonded contractors after mutual acceptance upon signed waiver of liability.

Thanks for responding @Shannon Covington Ryan GoldfarbI feel like I'm having to pull teeth in terms of him giving me the very specific location of the property and I can't understand why that is if he's really looking to sell.  

There are plenty of studies showing that the "average investor" generates 2-3% annualized returns from a mix of equities, funds and bonds over 10, 20 & 30 year periods.The real point I was making is, forget that the word "tax" is involved and simply look at the net after-tax return on investment from the opportunity when UBIT is in the picture.  

Plus when I'm at there home for an hour  to maybe 8 hours I don't get the same bond like a remodel.

I also get termite inspections and have a termite bond, I guess I should carry that forward. $2500 for all the windows - that's awesome.

This seems like an excellent market to get your feet wet and sink your teeth in.

Chicago, which just suffered three levels of bond-downgrading, looks to be next.Robert Kuttner Co-founder and co-editor, 'The American Prospec