@Chris Allen if the property doesn't sell in 4 months that could eat into your profits.

I will however always look for durability to save on make ready costs which can eat your lunch!

They seem very expensive and that could really eat into profits, I'm not sure if it's worth going with one right away.

Well, if it's just drawings, I do it all day long and I need to eat too.

However, if you decide to do that, you may want to buy multiple properties so you are not putting all your eggs in one basket.

After 7 years Cap Ex and maintenance will slowly eat all of your profit, even if you account for it.

If in several years you buy and the market hasnt gone down to what you bought your current house for you could be paying a lot more in taxes and would eat into any profits you made from the 3 units you are purchasing. 

We used to live in them before kids and it was a blast, but we could stay in a hotel for the demo days and go out to eat during the weeks we didn't have a kitchen.  

@Carlos Suarez I would not put all my eggs in one basket and split it up.

Emotions need to be cast away and your business always eats first. even before you.