I am trying to buy a town home and hold it for 10 years if possible, given that there is rental demand .Any thoughts about the same. 

Investment Info:Small multi-family (2-4 units) buy & hold investment.

You are paying the price to use someone else's money to buy a house.

No points, not sure if it's worth buying down since rates may fall?

Say I buy an occupied duplex, do I have to honor their current lease?

Quote from @Daniel Mendez: Do yourself a favor: buy "Every Landlord's Legal Guide" by NOLO.

You need to look at different places, ways to pay, and decide if you'll buy nearby or far away.

They fell behind and the 1st lien LENDER filed for NOD and NTS - Notice of Trustee sale and it went to the TRUSTEE SALE X-XX-2023 where the property was SOLD to a Third Party BIDDER for $375,000I assume under this SCENARIO - the 3rd PARTY bidder who purchased the property at the Trustee Sale Auction 8-23-2023 was buying the property involving the action being BROUGHT to the TRUSTEE SALE AUCTION  by the 1st lien DOT lender and that the SUBORDINATE $101,500 2nd lien Held by HUD may have received any (some) OVER BID funds but utilmately was WIPED OUT at the Trustee sale Auction...Thus their 2nd lien Goes away...Do not believe that the SUBORDINATE DOT lien to HUD survives the Trustee Sale unless they BID to protect their juinor lien interest.

This is going to be my first property I am purchasing and I am looking to house hack by buying a multi-family with 5% down. 

I almost made the mistake of paying a Philly guru who was going to teach me the ins and outs of buying section 8 homes and after reaching out to others on BP who invest in better market real estate, realized its incredibly risky.