Understand the path of progress via job growth (look at 5 year trends), business development (through biz journals, chamber of commerce, etc), know if market is owner friendly versus tenant friendly, and talk to property managers in the sub-market to understand rentability (is a PM confident in their ability to rent out a unit and quickly).

We are in the Journal Square area.

This extract from the Canadian Tax Journal is becoming a little long in the tooth, but generally still holds ... when in doubt, ask your accountant.

When done do a Journal Entry to the COG (Cost of Goods) sold AccountDon't forget to setup these "flips" as a class as well and link the expenses to that property in order to run a P&L by Class Report. 

Then in QB, receive the tenant's full payment, deposit to that account, then make a journal entry debiting the pm expense account the fee taken and your real bank account the amount deposited by them, and credit the escrow account for the sum of the 2.

Alex Silang Im going to start keeping this "journal" using a small calendar.

Hi Matt,With prices historically high in Jersey City, it's difficult to find 2-Family properties in Jersey City Heights, Journal Square, and even some areas of Bergen-Lafayette that will cash flow.

Take a look at the other end of the spectrum.In the Wall Street Journal (Apr 3, 2017) there's an interesting article.

Read and understand listings, Days on Market, price changes, read the remarks - look for signs of motivation.Keep a journal of all the information you gather in your search for values.

The Austin Business Journal did a recent article on the extent of job growth for the MSA.