If the investment is good enough then private/hard money rates can still make sense.

Investing in Northern NJ and hitting financial targets often posted on BP is challenging and in some instances impossible, that being said I wont talk numbers here as you deemed them good enough to put the deal in play.

Purchase price is $58,500.I'm hoping to buy another duplex in a month or two, assuming my financials are good enough with my lender.Any help is appreciated.Thanks!

@Brock Wahl yes there is a time limit on 1031As for the other "it seems like it would be better" is not good enough for me I'd do the math to verify, if you are making 3% renting your old primary but would make 7% with a dedicated rental it would probably be worth it to sell.

That is not the case here.Note if you used the 50% rule to estimate NOI, the cap rate would double but that still would not be good enough for me to consider purchasing.Good luck 

I still have some work work to do before I can get it in good enough condition for it to cash flow, right now if I were to rent it I would most likely break even (I bought this place before doing the calculations, and discovering BP)My question is this:Am I able to tax deduct expenses I use to get this place upgrade, since I PLAN on making it a rental property?

Could just be cosmetic and could be more like 15k.People like certain areas but for a good enough deal will venture to other cities or even other states.Varies, for cosmetic there might not be any inspections for major remodels, permits need to be pulled and the city inspector would need to check everything.I don't use social media for any of this.

I still have some work work to do before I can get it in good enough condition for it to cash flow, right now if I were to rent it I would most likely break even (I bought this place before doing the calculations, and discovering BP)My question is this:Am I able to tax deduct expenses I use to get this place upgrade, since I PLAN on making it a rental property?

I still have some work work to do before I can get it in good enough condition for it to cash flow, right now if I were to rent it I would most likely break even (I bought this place before doing the calculations, and discovering BP)My question is this:Am I able to tax deduct expenses I use to get this place upgrade, since I PLAN on making it a rental property?

I did some research and along with some assumptions I ran the numbers and they look good, good enough to call the realtor for further details.