Hi,I've heard a lot about "dry closings" and "wet closings", but what exactly are they??

If your duplex is held in an LLC and somebody tries standing on the edge of a wet soapy bathtub to install a shower curtain and falls and breaks something important on their body, they will sue the OWNER, your LLC, not YOU because YOU didn't do anything wrong.

Buying one property to get your feet wet and learn the business is hardly going to financially ruin you. 

I figured out of state would be a little easier depending on the area. 100k to get your feet wet, versus 300-400k. 

If you haven't already, I recommend grabbing a coffee and reading through BP's Ultimate Beginner's Guide to Real Estate Investing as it's a great place to get your feet wet.

That would be far cheaper and solving the water problem from the outside is 90% of the battle with wet basements, assuming water is not bleeding through the floor from a high water table. 

So first our goal is the buy our first primary SFH or multifamily that I can house hack to get our toes wet in the real estate world.

I am just getting started and trying to get my feet wet in the market.

So I wonder if anyone recommends one over the other for novice investors to get their feet wet.

Economy is 100% dependent on tourism.Tourist season is short: much of the year is “wet” season and tourism dries up (forgive the pun).