Investing in NEWARK multi-family for person with $40k disposable

[Orlando Goodon]

• I understand Newark CAN be a hassle for newer small investors, due to renter friendly courts and low potential low quality tenants. However the risks are relative to the investor profile as always. So would like your thoughts on mine, being an investor with $40k disposable income.
  
  Here are the basics:
  
  -Looking for 3-4 unit
• -I'd live there for at least a year to get 3.5% down mortgage
• -I don't need ANY tenants to pay the mortgage
• -Tenants paying mortgage just lets me save FASTER for my next property & build reserves for this property(repairs and such)
• -I'd be EXTRA careful in screening candidates; especially looking at job history/industry/credit
  -My goal/focus is $2000 NET income from 6 units. (ideally 2 triplex or 1 quad & 1 duplex; minimal amount of properties) AND build equity.
  
  So my thoughts are, the reason Newark is not best for new investors, more relates to those with limited funds. For example, if 6 months or even a year of no rent from one of your units would kill you, then it's a bad place for you. However, if you are not so sensitive to the risk of tenants that stop paying is it so bad to invest there?
  
  Also crime is an issue. So I'd say, be careful what parts of Newark you chose. Also invest in the best security systems you can get and do everything else you need to be safe. Good doors. Good lighting. 
  
  Finally I'd try my best to incentivize good tenants to stay. End of year on time rent bonus? Reduced rent for direct deposit tenants? Treat them well, as you would a valued client/customer.
  
  Thoughts? Thanks in advance!