Or report the tenants to the proper department.If there are consequences when they are reported, then after numerous warnings & citations they may move.

Section 8 can be very rewarding because you literally don't have to chase rent money.

While I have good cleaning people, numerous handi-persons and licensed contractors, their availability is not  24/7/365 I have to pinch-hit on guest issues and repair problems when the support staff is unavailable.We often find problems, broken, stained, damaged & missing items, during turnovers that have to be dealt with quickly.

The performance and risk/reward of previous asset many times incomparable to the new asset.

RE markets are efficient and based on numerous criteria. 

If you can't, I wouldn't do it.Debt increases risk AND reward.

Hey mate,Sorry to hear about your troubles but it's not too uncommon.I've been in the turnkey biz for 10+ years now and have often been called the "bad guy" as we only sell to investors looking to purchase with cash.Many believe that because we only accept cash buyers, that we inflate the properties price which definitely isn't accurate.Quite on the contrary when looking back I feel that we under sold them lolWe can justify every one of our property prices with a CMA independent of our in-house sales.Whoever believes that financing a turnkey property makes it safe is wrong.Most turnkey providers or affiliates push the financing model (Even in today's high interest environment) to make more sales.They have "in-house" lenders or community banks that they establish relationships with and promise large volumes in loans.This in return get's rewarded with various favors and many are easily able to manipulate appraisals.Having flipped over a thousand properties, I know how easily an appraisal can be manipulated so for anything reading, "NO", financing a turnkey property doesn't necessarily make you purchase it for fair market value.To answer your question:When S#%@ hit's the fan like it did for you with this deal, I personally would always look to cut my losses and move on smarter and more experienced.Granted, over the years I have witnessed many investors buy 1-2 properties from my company and expect miracles only to get disappointed. 

If I use reward points for the flight/hotel/rental car, am I able to apply the value of those points to my taxes for the travel?

While you may receive numerous inquiries from individuals casually browsing listings, focus your time and energy on serious prospects.

NJ is very intimidating at first but extremely rewarding if using right strategy.