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spenceey
The initial investment is already invested. This ain't no buy to let situation and I don't define money I never had as a 'risk'. Selling my flat and having the new place I buy collapse into a pile of dust is a risk. Not earning money off something, not much of a risk.
Stamp duty - is it higher if you already own one property?
I would be living in the second property, yes.
I have very little appetite for 'investing' in that sense. I'd rather pull out my pubes one by one than follow stock markets. Then again, if tenants trash my flat I'd be spending my spare time concocting more and more elaborate revenge schemes. So, that could be a time suck...