@Ricky Knack Yeah it really comes down to your own risk tolerance and goals.

Insurance is confusing as there are so many variables and decisions contingent on an investors risk tolerance, portfolio and market location.I urge anyone to ask their agent how their policy will reach to some of these claim examples because all policies are not uniform in coverage and all state insurance laws are not the same.Based on all of the above comments, keep these items in mind;- Some insurance policies will have a Coinsurance clause, which will penalize you for insuring for less than the Replacement Cost. 

This is about your risk tolerance, no one can tell you the "right" answer but yourself.Putting 20% down on a primary residence is a safe bet.

Once your team is established and you have one or two purchases under your belt, then you may want to start looking at increasing your risk tolerance a bit and looking at gentrifying submarkets within whichever designated city.Also, stay in touch with your agent or wholesaler and stay top of mind.

That is a matter of your risk tolerance and is a good question to ask your lender if you use leverage.

Truly think about your risk tolerance level and personality.  

Even in the best case scenario, the ROI does not justify the large capital investment and relative lack of liquidity as compared to my stock portfolio (where I have more knowledge & risk tolerance, even in volatile markets). 

I suppose that it depends on your tolerance for risk.

The challenge is determining what leverage suits one's risk tolerance and market dynamics.

I think there are still opportunities to do so in Bayonne, or somewhat further west, and possibly even in some areas of Jersey City, depending on your tolerance for living in slightly less desirable areas.If you'd ever like to chat about northern-NJ specific markets, definitely let me know--as I mentioned, there are a bunch of us on BP who are happy to give advice and thoughts about specific areas.