I hope to start in Virginia and probably expand to other states as I gain experience.

In fact, the process and people will likely gain you additional wisdom that helps you better analyze potential investments.What part of town are you planning to invest in?

I look forward to remodeling while living in the duplex with the help of my mom and dads prior knowledge of contracting) I joined bigger pockets to gain knowledge and understanding of what I am getting myself into.

If they sell now they pay capital gains on the sale, their heirs may pay capital gains only on step up value when they inherit.  

We have discussed liquidating but capital gains tax would hit us hard here so we'd prefer to hold.

If this has been his primary residence for the past 2 years then he can take the capital gains exemption without the complication and cost of the 1031 Exchange. 

I am looking forward to the knowledge I will gain through the individuals and information on this website. 

What worries me is that if I were to sell today for market value, the profit would be considered the difference between my new cost basis (which is now a decent bit lower than actual payoff) and sales price and I could very well end up paying money to sell, even when at first glance, there appears to be a gain. 

I would put less weight on school district for 1 BR and 2BR - your target audience will not be a family with kids in school age, maybe a baby.Approach it from the other side: how much is your target audience bringing home net every month?

Sounds like a big deal.For those of you with experience on flat roofs--popular in Baltimore--how do you feel they'll handle the weight of all this predicted snowfall?