Dodd-Frank wasn't designed to hurt renters - but may in fact have done so by limiting owner financed deals, and making renters rent longer until they can go to a bank.

Cold call as many PMs and Agents as you can, some will be extremely helpful, other will not be so don't limit your exposure to just one or 2 opinions.  

Even with her limited income I would think you could still be an accommodator on her mortgage if you wanted to pull more money out or just go 1% ownership to be able to deduct interest.

The challenge in our market is that there is an extremely limited supply of duplexes...which is why many people starting out jump into the room share strategy.

I have limited experience but learned quite a bit on the 4 properties I have already managed.

Thank you all for the information.I probably should have initially noted that I am looking to get my license in Illinois.If I became licensed, would I be limited to how many properties I can invest into for myself, specifically buy and hold and for flipping?

I buy single family homes in the right location  they are easy to rent and easy to sale .When  you buy triplexes they can be hard to sale, you have limited your self to  only to investors to sale to if in a jam .

The lightrail will continue to improve mobility and renter pools in areas that previously were limited due to traffic on the already congested highways around the metro. 

-What is the typical or recommended duration for a purchase period duration limit?

The only exception I found was to have a "test range" outside of a free standing gun dealership only to be used limitedly for prospective buyers to test a handgun, and then only with the larger and harder to find containers.