Honestly a quadplex was my first choice but loads of reading shows that a general census is that if you are new to real estate than consider a duplex first because its smaller and easier to manage.

There are hundreds of issues that can effect that property value leaving that partner or lender without sufficient security.

Going through a traditional lending institution is not a good choice since it will take atleast 30 days to get an approval.

If you hold the property long enough and make sufficient upgrades you should be able to make some sort of profit down the road if you choose to sell.

The property is a mid-century modern and judging by the color choices and the neighbors, the old owner was a bit eclectic.

Now that I've been reading here for a while I'm wondering if we made the wrong choice?

It seems Multi Family is best choice in Northern NJ, but why they're better?

@allieboone My units are in South LA, but in the county's non-rent control area, my first choice  for buy and hold strategy. 

You want to look for the flexibility to not be subject to Co-Insurance requirements or minimum earned premiums and varying choices in deductibles and coverage forms.

Six months in, landlord calls and has some story about how he had both a homestead exemption and the mortgage exemption in his name on the house, and the mortgage company found out he wasnt living there, and he had worked it out with the mortgage company that "he would pay a lump sum to them of 4k and then the payments would jump up by $150 a month" He called us and asked if we would be okay with that, and we really had no choice but to be okay with it.