I once purchased a condo from a developer/converter who, because of 1031 Exchange rules, had to maintain ownership of at least 25% of the units in his 100 unit building for at least a year before selling.

I currently own a condo that I am interested in selling.

Next year, or whenever the market stabilized, make the move to get into our first home (or condo) purchase.

Where they had the owner of the company called "Condo Vultures"... thought it was a kick.

I currently own 4 homes in Lynchburg,VA (where I went to college) and 3 duplexes in Buffalo,NY.

No condos, no townhouses, no plexes (2-4).

He suggested duplexes might be a good idea because we could both get our own 'home' to live in, and when we are ready to move out, we could either sell it, or if need be rent it out.He also advocated flipping homes because of its short term nature and he thinks he can get cheap rates for contracting.

You can buy a duplex there for 20-30k and rent it out for 400 dollars each side.

I even had one leader of a club try to tell me he condo converted the building he lived in (and that he was worth 8, 15 and/or 22 million dollars depending on who you asked).

Bank owned REO Duplex, only ten years old, great shape, and great neighborhood.