I'd say go for it, everybody has to start somewhere.

The prior owner, the husband, has told me the bank does not plan to pursue a deficiency against him when they do eventually foreclose.

Eventually with any degree of volume, someone WILL claim you discriminated for a completely unrelated reason.

But the situation did get me to start thinking on how to properly analyze a small multifamily house.I've only invested in SFRs so I'm a little green when it comes to properly analyzing a duplex.

When factoring in risk, I agree with @V.G Jason The start of the fall....margin call.

@Michell ChaseEvery state you own property in you need to register as you will eventually have to pay state taxes as well

By negotiating 20-35% discounts, we managed to achieve cap rates between 9% and 14%.I've also started managing properties for three of these clients, listing their rentals and ensuring everything runs smoothly.

Figuring out where to start is hard sometimes. 

@Jorge AbreuCan you elaborate on the difficult seller, backing out of the deal which eventually turned a home run for another investor part? 

We have a 2 year lease with our first tenant starting soon.