Well, let's say you moved out and needed an exit strategy... less people will buy a duplex, but you'd still have a decent number of buyers who could get financed for it.

In the firm I will work for next year, it is typical for attorneys to last 6-10 years and then exit to many different areas (big law).

What is the exit strategy?

The windows were the typical small basement windows and even though it had 2 different exit doors, the windows were not egress.

Of course I still plan on using other market strategies as needed, I plan on making sure every patient has a chance at walking out the door with a business card in hand :) P.S. the people who are hardcore yardsalers are also mostly of low/low-mid class origin, thus often being the kind who may need a quick exit strategy on a home due to a backfired mortgage/biting off more than they can chew.

If you plan on implementing a buy-and-hold strategy it gets a little more complicated, as everyone would have to be in agreement as to when the portfolio will be liquidated (and the future market may make this more difficult than you forecast, always be aware that there are many variables in play and you should have MULTIPLE exit strategies) or how the cash flow will be split once you move and can no longer be as active in the property management as your partners.Be sure to discuss what elements will be included in your Operating Agreement, and what business structure you plan on using (partnership, LLC, etc).

If I'm buying a duplex in an area with 5% vacancy at or a little below FMV, but both units are rented when I buy it, should I be too concerned about what my exit strategies are?

The exit strategy for this one is a rental.

I just listened to a BP podcast that talked about the importance of having multiple exit strategies in the event the flip cannot sell.

This would give less of a cushion if we needed an exit strategy or if something unknown happened.