Yes you will need a permit. 1) you will need to add outlets on each wall as per code...and of course switches for any lights or fans.

I guess I was looking at this as a low-cost of entry type of property that could provide some cashflow.

Which is its a low cap rate deal, you might need to put 40% down in order to meet the banks DSCR loan covenant. 

You need comparable sales BEFORE you spend $175 or the appraisal will come low to your expectations.

This decision was not made lightly and comes after thorough deliberation and analysis of our current financial position.This requires us to exercise our right to convert your Note and issue equity (aka membership interests) in Norada.

Poor lighting.

Just the last 20 have been so abnormally low we have gotten used to that normal.Folks also forget what started us on the ultra low rate cycle for  the world economy to crash in 2008. 

And I buy the seller carry back notes for those that want to cash out.I agree with jack Bosch I saw him at a rich dad event and his stuff was very dated.Its not a complicated model you buy low sell for more..

It's very hard to win with low money down in Northern NJ.

In some very attractive markets like coastal cities I can see it being worth it not to rent the unit or rent it only under very limited circumstances in the low season because the high season is just too lucrative to allow anything to affect those bookings.