If you have experience with this, please let me know or point me in a good direction.  

Your post didn't sound like it came from a landlord with 25 years of experience, so I was pointing to the basics hoping it would motivate you to do some research.A quick Google search revealed numerous NJ banks that offer the convenience of opening accounts online.

While I was trying to be clear about not having any experience with you, I don't know if many people understand the fund of funds or co-sponsor structures and if/how they bring any value.  

Whole homes, in my experience, have more vacancy, especially larger homes but the overall dollar amount is higher in most cases.

I figure the worst case scenario, I don't sell anything but I gain a very significant amount of experience and knowledge about real estate (I would be surprised if this happen though as I do have a lot of sales experidence).

I would, instead consider a partner with capital and perhaps experiences and skillsets different from those of your own.

You will build skills and experience in acquiring and managing the duplexes that will help you with real estate projects large and small. 

If you don't have experience, you don't want to take your family's money and put it at risk.

With your passion for learning, you'll find a wealth of knowledge and experiences shared on the forums.

Anyone with experience in fair housing complaints, please comment.