I prefer duplexes because they perfom better as pure rentals, vacation rentals, and allow for condo conversion exits.

I had a similar conversation with my brother in law.

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Here are some recommendations for you:Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: https://www.biggerpockets.com/podcastIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

Here are some recommendations for you:Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: https://www.biggerpockets.com/podcastIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

If anything, it can be part of your brand or a conversation starter.

The conversion back and forth from primary to rental or vice versa can be a huge tool.The laws started getting stricter in 2008. 

(This is proposed in initial conversation with seller, same as proposed price.) ( I am assuming this is a balloon payment)I currently don't have money for the DP of 10-15% but I have enough cash reserves to acquire this and maintain my other properties.Property is in sellers market. 

I think it helps to have a candid elephant in the room conversation with the tenant, that way, if you choose to part ways, its in the most human(not humane) way possible. 

Great question and I love the conversation that it has started.