Find a few properties that are your closest competition (similar size, location, finishes).

@Venecia BaezRecommend 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?

It really depends on market demand and location.

Is it the location, amenities, something else.

My point is even some experienced operators doing more extensive/sophisticated value adds are struggling in this market. 

Usually when a landlord cannot find qualified tenants but are getting a fair amount of inquiries there's an underlying real estate problem and the qualified tenants simply do not want to live in that location.

Hi Anthony-You currently live in NJ and are looking for out-of-state locations that are affordable with strong rental potential.I would look at a market like Lansing, MI.

Additionally, Chase Ink Business Preferred offers competitive travel rewards and may pair well with their banking services.Bundled Solutions: If keeping everything under one roof is critical, you might explore Silicon Valley Bank or First Republic Bank, depending on your location.

Assumptions: specifically allowed in city ordinances, mobile home manufacturing in the area, or that someone heavily marketed that area as a retirement location in the past. 

Be sure that you are purchasing in a desirable location though.