First & foremost thank you in advance to everyone that will respond to this post. I greatly appreciate it.

I want to purchase a duplex to live in and rent out. What is the best business entity for this situation,that will best maximize the benefits of me being a homeowner and this being a real estate investment. I will be the sole owner of this property. Thank you again in advance,

Your best outcome is No entity....buying or owning under an entity limits your loans available, and would eliminate your homestead exemption and section 121 exclusion when you sell, on the half you occupy.....with no benefit whatsoever on the half you rent out.