First time buyer-searching for multi family house hack NJ - help

[Justin Sofman]

Hey BiggerPockets community! Here's the scenario: I just got my Real Estate license purely to educate myself and use for investment purposes. I listen to BiggerPockets podcast, run numbers, read, search various sites for properties, and am taking steps to action what I've learned. My goal is to put 5% down with an FHA on a multi family house hack. Hoping to renovate and boost ARV.

That being said, I'm a novice.  I'm finding that it's super competitive in northern NJ, namely, in Hudson County.  As soon as a multi family is listed, it's under contract.  I'm hoping to get some tips to increase win probability.  

-How can I target off market multi family properties so I can contact them to see if they want to sell.  Is there a database/list?  Do I have to pay for that? 

-Is this market too hot to compete as a first time (investor) home buyer?  Interest rates are bringing the big dogs over from NYC and they're snatching up the multi fams where the #s make sense w/ cash or a big down payment.  If you've run #s on NJ properties, it's tough to make them make sense from an investment standpoint.

-How can I compete?  I need a property within commuter distance to mid-town Manhattan for my job. 

Any insight is greatly appreciated!!  

Thanks, 

-Justin

[Justin Sofman]

@Jonathan Greene Hey, thanks for the tips. Good stuff. Interesting that you say Philly because as of today I became interested in Lehigh county in PA. Noticed that the numbers work very well. Properties with the 1% rule seem easy ish to come by. I also took a look at Philly and it seems to be the same. Any familiarity with Lehigh county? Heard Bethlehem in that county is a pretty solid place to live. What’s your take on why Philly is a good place to look?