It's hard to say for sure without knowing your market numbers, but I would bet you if you looked at a 10 year projection, you will probably have a better ROI with the equity in 2 houses as opposed to the equity and cash flow with one. 

There are a lot of local real estate investor meetups in Northern NJ that you can find in the events forum here and on other sites.

Does anyone know of a site or common place to meet investors and rehabbers to make a deal with.

Welcome to the site.

Hey @Jon Pflueger - your best bet will be to retain an architect, they typically have a good understanding of what's feasible and not in a specific zoning/area + will know how to handle variance permissions and etc. 

I went to the TREC site and I dont see any form with option, so im lost with where to find the forms. 

If you’re doing section 8 are you finding those numbers to be pretty accurate on that site?

Realtors offer the broadest market through the MLS and networked sites, potentially reaching millions.

You can see it everyday on this site! 

Thank everyone again I'm new to this site but it is an amazing sounding board and everyone gives such amazing feedback.