He should be paying into workman's comp and be the experts in evaluating the level of risk.Do you have an umbrella policy in addition to the property’s policy?   

The surrounding areas such as Belleville and Upper parts of Newark (upper Roseville, branchbrook park), Kearny are good options as well.

Some land flippers will buy unwanted and neglected parcels of raw land for a bargain and then improve them by clearing the land or even leveling it before selling it on.Most land flippers are making money by actively seeking and marketing their land flip projects.

How do you typically evaluate or assess the level of risk when dealing with more complex scenarios, like foreclosures or borrowers with bad credit?

Hello Matt, are you only doing prefab wall panels, where they are assembled before delivery, or are you going to the next level with a full Prefab modular construction, where the units are completed at a factory and relatively minimal work is completed on site.One issue I have heard on the modular construction is the manufactures are sold out for this year.You might want to check out www.VuhausLLC.com/models they are doing high end modular construction.

My CPA says STR "A" can only deduct expenses for STR property "A", and only up to income level.

Some of the zips with better cash on cash returns are going to also be the ones with lower level neighborhoods.

If in the year 2000 you invested $200k in Cleveland and $200k in San Diego both with same level of leverage.  

I don’t see anything wrong with paying points if you like the rate, getting it to a level you like is just personal preference.You’re either going to pay it on the front, or the backend. 

I consider that the upper bound of reasonableness.