Then you can start dabbling into buying rentals or flips.

We need to drastically cut rates to entice buyers, it's the start of the fall.

So, if the lien does not sell in Year 1, and you buy Year 1 and Year 2 liens in the Year 2 auction, then the 4 years starts on the date of the Year 2 auction.  

So that is not even the closing date.I start to think of moving away from this deal but don't know if that's even possible.

It is still advisable to see what is on the local market and see what is selling as you develop your plan to renovate a property. 

Remember, it’s not important to start fast and get big, just start and learn.

The city has been re-inventing itself over the last decade, downtown looks very different, we are currently getting an upgraded freeway system and you see a lot of new developments.

I'm just thinking it's better for the bank because I might have to move out due to financial reasons, and then the property will be sitting here vacant, leaking and with a developing mold problem that will go from just one wall to the entire house if not taken care of.

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

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.