Related, you will want a contractor who is used to doing projects like this on schedule and on budget.

We've got strong job growth (tech, healthcare, education), stable population growth, strong rental demand, and plenty of value-add opportunities in multifamily.

This extra year gives property owners more time to schedule inspections and make necessary repairs.Key Points:Applies to multifamily properties with three or more units.Covers balconies, decks, and elevated elements made of wood or similar materials.Inspections must be completed by licensed professionals and repeated every six years.Hazards identified must be repaired promptly.With the extension, now’s the time to plan ahead.

California offers great job markets and weather, but comes with high costs. 

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

As long as you focus on areas with strong job growth and analyze the deal carefully, I think you will be in great shape. 

Rents are sky high in certain neighborhoods of Jersey City (we are second to NYC) as such many of the tenants are professionals with high income commuting to their jobs in NYC by ferry, 24 hour path train and bus.

They do an incredible job.  

Since I’m still in school I don’t have much money, I’m trying to learn as much as I can about real estate so that way once I get a job out of college and a steady income I’ll know what to do with my money.

I had to remind them a few times of deadlines but they did a good job overall.