Im considering the strategy borrowing from my 401K and using investors. not sure how to structure the investor portion of it.

Thank you @James Tran  , I was was leaning towards multi family property because of the fact that I can leave for free, or at least have the tenants pay a large portion of the mortgage.The only issue is that at my price range, I'll have to find myself living at the "not so good" areas of SFV or LA.Any recommendations for locations ?  

A lease purchase is a lease with another agreement so they can interfere with the lease portion and possession by a tenant.

Best bet is to either find someone who wholesales in NJ and buy the contract format from them (or get someone to give you the contracts for free or for a portion of your first deal), OR have a real estate attorney draft them for you. 

But I think the two key ones to me would be:1) Will your bank count a portion of the rental income in your DTI calculation?

As for the commission portion of your question, I can't help because I've never seen a month-to-month commercial lease.I know that SOME commercial spaces are listed on MLS, but you may find additional spaces listed on LoopNet.

It's a city of about 2000 people and a good portion of that are agricultural workers that live on the farmer's property.I plan on making up a market value myself, but thus far have trusted the Realtor to do his job.  

So I've been starting to do a system where a tenant pays a portion of their water bill every month (e.g. $25 or $50) then each quarter when the bill comes the tenant "settles up".

I estimate I can live in the basement and rent out the top portion (2-3 bedroom) for $1,300 so I'll have to cover $2,345 myself.Looking at the amortization table, I'm putting about $1,000 per month towards principal, averaged over the first 5 years.

Return portion of deposit deserved.