If anyone has experience with furnished LTRs, I’d greatly appreciate your insights or tips!

Assessments in NJ are not done on sale, unless it's a new build or a complete renovation where the permits tip them to reassess, so every three years or so they reassess all of the properties and taxes go up most of the time.

I've been in RE development for nearly 20 years so happy to share some resources. 

@Sean GammonsConsider adding a partner for the second deal to share the down payment and mortgage responsibility, keeping DTI manageable.

Thank you for sharing this information. 

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To maximize your chances of success, recommend sharing that and the percent increase in taxes & ins with tenant and asking them what they think a fair increase is.- If they say $0-$50, you'll have to get rid of them at end of current lease.- If they are more reasonable you may want to accept if for now, but let them know you'd be doing regular increases to get the rent more inline with market rent.Too many newbies here will tell you to get market rent or get rid of the tenant.

Other's are cautious to share their resources so they dont burn bridges if things go south with a referred investor.

Can you share what your findings were?

Thank for sharing @Duncan Hayes and @Alan Bailey.