TLDR: I don't see a reason for small landlords to use concessions - either the price is too high or you need a remodel if your unit isn't renting.

Simple touches like fresh paint, landscaping, and clean walkways can make a big difference.Highlight Key Features: During the appraisal, point out any high-quality materials or unique features you've added.

I'm an experienced project manager with hundreds of cradle-to-grave efforts under my belt, including building project scopes and budgets, evaluating contract proposals, and managing construction to maintain the delivery of high quality products on-time and in budget.Penny is a licensed clinical social worker (LCSW), serving the community mental health needs of parents, children and families.We both recognize we have an immense opportunity to serve our community and want to capitalize on the blessings we have been provided so that we can continue serving our neighbors.My wife, Penny, and I are looking to transition into commercial multi-family real estate in 2025.

Based on your numbers, and assuming you have a credit score high enough and have never filed for BK, you shouldn't have an issue getting approved for an HML to buy/rehab the property that I would estimate at about $370k-$375k (which includes 100% of the rehab costs).

In New Jersey, there are numerous brokerages to chose from, and I highly suggest you do a google search and look into 100% virtual real estate brokerages in New Jersey. 

I’d hate to see you walk away from that high an income and regret it.

Pretty cool.You probably won't find this type of home in Florida or anywhere where the water table is high.

And when talking to a buy you say "ha, ha, ha, look at the deal we got, we got that person to give us all this $ from there cashflow"The whole thing wreaks to high hell. 

If you are in a state where eviction cost is high and it is tenant friendly you may need a higher credit score to offset default risk and eviction cost.If you are in a landlord friendly state where it is easier to get non paying tenants out you may be able to handle more none payment risk.  

I highly recommend a book called Foreclosures Unlocked by Matthew Tortoriello and Kevin Shippee.