View report*This link comes directly from our calculators, based on information input by the member who posted.Hello All, Please help me analyze this BRRRR deal and figuring out what's missing here.What are the holding costs based on?

Best part is NJ is not what its made out to be in terms of landlord friendly, the state gets portrayed as the entire state being bad when really most wacky laws are in the major cities and they apply to 5 units or more.  2-4 unit multi families fly below radar per say. 

Sent you a direct message/connection request 

I had a similar experience in San Diego with a fourplex that came directly from a builder connection.

I was going through the rent control laws ( I know, should have done that before purchasing the property ), and a section stands out. https://ecode360.com/30526708#42037155Based on what I can read, the rent control chapter doesn't apply to: Dwellings of three and four units, at least one of which is occupied by one or more of the owners thereof.My understanding is that rent control doesn't apply to owner-occupied multi-units. 

If you need an example, go to my profile page.With that knowledge, I can then give you better direction as to where, what and how to invest with real estate.  

♦How can I apply to speak at BPCON2025?

To answer your title directly, house hacking is entirely worth it and if you're willing to be a landlord it's 100% the best springboard to financial independence.

I know it's complicated, but I just really am looking for help and direction with this property.  

One of the biggest challenges of investing in Rustbelt cities is knowing where to invest and properly understanding the cooresponding pros & cons.Here's copy & paste advice we share to help to address this challenge:-------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?