Granted this was on plots of land I didn't pay for, and that are already connected to the city's water and sewer, so there's a lot of savings there, but I'm hoping if it turns out to be this good of a deal I can still scoop up land and keep going

However to save money when she had the house built, she left the basement unfinished--it is just studs, insulation, and windows/doors, plus plumbing in the foundation.

I'd like to keep savings and be able to hire out some of the work (something we have not done in the past).My thoughts are to put both into an LLC and look for investors or a business loan, and purchase and move to a new home.

Northern NJ is not the best place for retirement but it is a great place to raise a family due to the great schools and for those needing easy access to NYC.

If you are able to sell I'd say sell, if it's not looking like that's going to happen then try to get it on a long term loan with renters so you can save on your monthly payment, then get the equity back out and move onto something else!

Top 3 reasons owners hire PMCs:1) No time to manage correctly2) No time to learn how to manage correcly: laws, documents, processes, etc.3) They're too nice and need someone to "save them from themselves"A good PMC can usually earn their fees by better managing the property/tenant than the owner, thereby:1) Increasing owners net profit2) Decreasing owner's time commitment, stress, headaches, etc.No matter what though, you should always plan to commit a couple of hours a month to manage your PMC.

Quote from @Travis Smith: Age 56 and retiring from farming and I’ve been very good at avoiding income taxes with depreciation and business expenses.  

Sometimes letting them do their thing can save so much time and stress!

Being a one stop shop for mortgage, real estate, and property management helps us save our clients $$$ and they only have one company to deal with and one contact saves time and creates an unmatched synergy.

If you plan on moving do something else in the meantime and build up income/savings