In the meantime, I'd suggest teaming up with an experienced investor (for a profit-kicker on your next few deals) to simply leverage their experience as part of your team for that deal and to include them in your underwriting package (your lender pitch).

@Matthew Olszak - there is a stairway from the back deck of the first floor apt, down to the basement stairs, so there would be some protection from the elements.

I'm putting the underwriting package together as we "speak" for private money.

I was considering ezlandlordforms NJ specific lease package.

The complexity of turning a shell of a building, with what looks to be outdated mechanical systems and structural elements that most likely needs updating, as well as any city permit/planning elements are part of the equation that you have to consider if this is worth the risk.I know I will get flak from members of this forum.

If the difference in rents is so big, you might explore master leases to see if you can turn it into a seller finance down the road.An assignment is a much cleaner approach where you assign the whole package collect your fee (from the buyer)and get out of the arrangement.

Chad Greeenhill , hhgreg usually has specials and appliance packages.

Then join a local REI group and begin using this formula to overcome your fear of the unknown....Definite Goal/Plans + Faith + Emotion + Action  = All Human AccomplishmentFaith = Knowing you can accomplish your goal / Self ConfidenceEmotion = Feeling you can accomplish your goal / objectiveIf you feel that you are deficient in any element, focus on working on that until you feel you're ready to take action.I wish you the best.

We had separate policy package that included info about the property guidelines in detail.

Would you recommend a service like this and every bite, I would give you a video/picture package as a thank you.