So I'm doing the preliminary work in the meantime--contacting the city to see what they would like, reaching out to the residents in the neighborhood, etc That's great that you are doing your research beforehand. 

Investment Info:Single-family residence other investment.

Maybe you're in limbo renting for a year while the primary residence gets built.

If you intend to occupy this as a primary residence you could "assume" the loan meaning you would personally need to qualify with the existing lender to take on the loan in your own personal name. 3.

I have looked at Hopatcong however despite allowing STRs, it has language that requires the STR to be the principal residence of the owner as indicated by something such as a diver's license.

Quote from @Aaron Provencal: Investment Info:Single-family residence fix & flip investment.

But always complaints about guests (residents) leaving common space a mess, some resident gets mad they have to clean up...   

Investment Info:Single-family residence buy & hold investment.

I honestly believe a lot of investors are being forced to buy properties that cash flow less per unit but then one big expense and you’re in trouble.

Honestly I work with a lot of investors and havent found a way to make anything off wholesale deals.