The whole point of these type of  deals is for someone who wants to live in the 3br 2ba luxurious duplex while amortizing a larger mortgage and owning land outright vs condo association while paying less out of pocket then the comparable sq ft condo costs after assessments, etc.That top unit duplex pro-forma we figured $2750 w free parking spot.

They still need a place to live, so they will either move back with their parents or will look for a place to rent.If you are looking for a rental in a luxury area, like Las Vegas or some beach vacation destination, then I agree that the rents there should go down if the market goes down, because people won't consider expensive rentals during the crisis times.Those are the things we consider when buying a rental property.

We use luxury vynal plank floors.

The house did lack luxuries that other homes had that sold for $200k – $220k.

And when they told their 10 closest friends about paying the extra 1% for the luxury of working with the one and only Wayne Brooks I am sure all 10 of them were lined up outside your door at 7am begging you to work with them too right?!?!

If you set up an LLC with only you and your husband as members (a single member by virtue of your joint tax return) and that LLC chooses to be taxed as a sole proprietor then it is what would be called a disregarded entity. 

@Tom Wilson The floors are luxury vinyl planks.

The area looks great now, since Hurricane Sandy leveled the town and luxury multi-families were built in their place.

Or invest and let your investment pay for your Corvette or what ever luxury you want.....its the same concept.What ever you decide, you will have some time to continue to learn. 

Stick to the basic luxuries, an HDTV with a Roku and a BluRay player with some adult movies.