Such as unplugging smoke detectors, flushing things down toilet not meant for the toilet, etc...

My question is, do I just not touch the first property, use the cash flow to reinvest and pay down the mortgage or save up for a downpayment down the road OR do I pull cash out of the first property to buy the next property?

Ideally you need to throw 3-4 hours a day at it to see fruit down the road.

Ultimately, it boils down to how certain you are the reno costs won't exceed $65k and that it won't take any longer than 3 months.

Newark is hands down one of the worst cities in America to invest in. 

It snapped off vertically down the middle when he went to the kitchen in the dark in the middle of the night and when he turned to walk back, he walked into a little cupboard door which pushed it back against an edge of the wall, which caused the wood to snap.

Also, how'd you narrow down your search to these two markets? 

I just don't see it going down significantly more than the current state... but again who knows.. it's Dubai like you said

Ultimately, leading to issues down the road (eviction/habitual late payments)

Any MF of the quality and size (50 up) I would have been interested in would have been cash flow negative for the next 5 years or so, even with 30% down.