Deal Found - Need Advice

[Kyle M.]

So I have posted here before, but due to unforeseen circumstances my dive into real estate has been delayed. I am still a complete novice and looking to seal my first deal.

Currently am 25 who lives in an apartment who has never owned a home.

Property Info:

List Price: 110k

Median Rent: $1600 (rentometer)

4 bd/1.5ba

Property rents for 1.50% of list price.

+$275 a month, according to 50% rule. Does not take into consideration the high property taxes in NJ.

Details:

Property is listed as average+. From the pictures it looks like it needs some modernization and some paint in some areas.

Additional Concerns: (about starting up)

So I currently do not know where I am going to be three years down the road. I work for a large company and my bosses expect me to move up within the company quickly. This could lead to relocation etc.

1) So what is the worse case scenario if I were to have to relocate in say three years. What type of monetary loss would I possibly take? (if I have to sell)

2) Also, I feel that if anybody within my company knew I did this they would question my loyalty to the company. They might view me as unhappy with my job or think that it will take away from production. And this would hurt my reputation and may lead to others surpassing me. However, I think there is more income potential through buy&hold then through promotions. I really have no problem with not telling a soul.

Any advice on the property deal and the concerns are much appreciated, thanks!