However, if the nearby high-risk area poses too great a threat to perceived safety and could potentially deter quality tenants or future buyers, it's probably too close for comfort.

Please share your experience if you are comfortable doing so.

What's at risk is it may not cash flow and renting is not so common in South Jersey, but I would feel more comfortable investing in a good area where schools are decent to good, and tenants are likely to care more.

I would say 30 days is the quickest you could make it happen. 60 days would be a lot more comfortable, and less hectic of a process. 

Frankly, I wouldn't feel comfortable owning a condo long term due to rising HOA costs and major assessments.

I've done research in finding and analyzing properties so I feel somewhat comfortable in that regard.Here is a sample scenario below of a real property I've done some analysis on.

It's a lot more comfortable being an investor that incorporates all aspects of investing in real estate, in the context of “time”, but I guess that is what makes the top 1%.

If Airbnb is an option for your spare bedroom then that's great, personally when I first started I didn't want to have to deal with the in and outs of people and also making my place aesthetic enough that it would rank well on Airbnb so I went straight to long term rentals but if you want to dip your toe in the water it could be a good option if shorter term tenants make you more comfortable. 

Or you could self manage sub contractors yourself depending on your comfortability level with that.

What's at risk is it may not cash flow and renting is not so common in South Jersey, but I would feel more comfortable investing in a good area where schools are decent to good, and tenants are likely to care more.