If your goal is passive income, it's not going to be in New Jersey when you factor in cost to purchase, management costs, and rent to price ratio, but what you can get is steady appreciation.

To answer your question (that wasn’t actually aimed at me) my concerns are investing in an area that I’m completely new to and building an out of state team that will be effective. 

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

I do not think it would cost too much to tone it down howeverI got a $10k quote (minus fees) from an interior decorator recently to redesign.

Its not near any major cities where someone might look at it as a long play for path of progress.Another option might be to see if a solar farm or wind farm company might be interested once its clear cut. 

I was wondering if there would be any advantage creating a LLC or business to pay for the renovation costs.

It's hard to guess how soon regulations will become effective.

You can buy a set of five for under $300, subscription for the recording software is $10 a month, then the cost of WiFi or hotspot.If you've already had a couple break-ins, you are obviously in a high-crime area.

In my search, I've noticed that many positions require proficiency in Yardi.I've been actively looking for effective ways to learn Yardi, but it seems challenging to find suitable training or courses online.

I’m not from the US and currently live in Europe most of the time.I’ve found some apartments that could work well for my needs—I plan to rent them out on Airbnb and reserve a few nights for myself when I travel there for work.My question is: apart from the purchase price (I’ve seen listings on Zillow averaging around $150k in areas like downtown Dallas, Old East, and Plano), what other costs should I expect—both during the acquisition and in monthly payments?