By househacking a multifamily, you'll gain the same acquisition experience as you would purchasing a condo/co-op.

Would like to sell and capture gained equity, also cash flow is not great and the house needs more work.

I can see where it would elevate my efforts and provide a great standard to follow as I gain experience.   

The accountant said that NJ allows one to “adjust” the basis in the property to the extent no benefit was obtained from depreciation...you do not get to take losses from real estate to offset gains on sales of property in NJ.

The short answer is that the longer you live in it the more gain will disappear. 

I haven't paid attention to them in years because there is nothing worth buying at them.

What we learned: We got lucky that we gained a lot of extra equity soon after we bought the house, which makes these repairs palatable. 

It was those 2022 delivered  projects where I became an accidental landlord that led me to focus more attention on building to researched housing needs rather than simply replicating the inventory other's bring to the market and it's been a game changer for me and my business. 

Plus, you will gain more equity in a shorter amount of time.

Their loss is our gain.