You can also check the operating expense ratio (OPEX/effective gross income) in comparison to the comps to see whats going on.Good Luck!

Just be wary in NJ about taxes and the effect of a non-paying tenant.

Use that cash to clean up whatever needs to be cleaned up and educate however you want. 

@Russell BrazilI would argue that the yield if an asset has everything to do it.Why invest in one 6% yield asset when you might be able to invest in two or three 12% yield assets in another market.The point was about judging the effectiveness of the BRRRR method in a hot market.

Be willing to learn new things, especially when it comes to cleaning or fixing anything in/on/around a house or apartment.

I go in clean and paint and I can't do that with a tenant in there, so maybe you only lose 1/2 months income.

however it is rare you get a fire after all the homes we have had I think we have had maybe 3.. when I had my big rental portfolio I was just about to go to self insurance.. at 200 to 300 homes in the low value asset areas self insurance for fire becomes very cost effective when its private equity and no bank.  

The checkbook IRA or Solo 401(k) are more nimble and cost effective.

This gives me the opportunity to clean up, do some reno and I should definitely be able to get better rent. 

In either event, understand you will need capital to clean up all the deferred maintenance.I personally wouldn’t move forward because of not only the current problems, but the hidden issues that have yet to be uncovered.To your success!