I’m interested in learning about buying and holding long term rental properties.But I’m in a really messed up situation right now and looking for suggestions what would be the best approach to my situation in order to scale quickly. 

I would suggest having an attorney at a minimum review any lease you create. 

I am looking to buy a multifamily in Jersey City for STR, any suggestions, what area will be good for STR and weather number make sense at this time.

And there are a couple of folks in town who are suggesting using installment contracts as workaround, as well.

I also suggest a drive-by so they are not unpleasantly surprised by the neighborhood when they to the showing, and just keep on driving by anonymously as I wait outside.

What or who do you suggest I speak to or learn from to better understand my options for mortgages?

Starting with three T-12s from properties of a similar size and market is a fantastic strategy, and I’ll definitely take your suggestion of setting aside time to really dig into the details.Thank you for the encouragement and practical tips—it’s advice I’ll take to heart as I move forward.

If you haven't already connected with an investor-friendly lender yet I'd highly suggest that.

If Tampa is on your radar, I HIGHLY suggest you connect with him. 

Your potential buyer suggesting you terminate the contract and them paying you a fee does sounds fishy to me.