they won't pay super high in that area according to my experience. 2bed is paying 650 to 750 let me know if you manage to get higher than that.

My husband is a high income W2 earner, and meeting active criteria would put some of our tax dollars back in our pocket.

Focus on long-term rentals in affordable markets with reliable cash flow, and steer clear of high-cost flips, lower-class properties, or overleveraging in areas that rely solely on appreciation.Good luck!

New Jersey is high.  

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

My advice would be to partner with someone who has additional funds so you can buy something that is of quality. $8k won't get you anything in a class B or A market with 20% down or even 10% down. keep going though!

I am a general contractor that specializes in kitchen remodels and high end custom cabinetry, but I'd like to use this project to pivot into more general contracting and property development. 

They are highly secretive however - no online presence under their names while being very tech-advanced, they also installed like seven cameras around the house perimeter.

Despite the fact that the market has dropped significantly both in rent and price, I still think the market should be considered high risk/high reward.

----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?