I’m from Long Island with similar price points and rental laws to NJ.

Your concerns will likely be less with the tenants and more about learning things the previous landlord didn’t handle (deferred maintenance, whether the tenants pay on time consistently, etc)all the best!

I’m currently facing a similar situation and realized that I wasn’t using the right resources or consistently marketing to a single, optimized list.

The requirement to have a realtor license, according the Maryland state statute 17-102, does not apply when (among other things)"an owner or lessor of any real estate while managing, leasing or selling the real estate, unless the primary business of the owner or lessor is providing real estate brokerage services or...a person while acting in the capacity of a personal representative" Sounds like a carve out for representing yourself to me.Which would be consistent with the NC definition of a realtor as anyone who buys, sells, leases...real estate for others for compensation.

Starting with the Community Redevelopment Act (CRA) put forth by the city; the Monaco Yacht Club Residences which were completed in 2022 consist of 39 units that start at $3.25mm.

I have a few other rentals already and have been consistently earning well between all my investments, my job and my wife's job.

There are only 3 major banks on the island. 

If you are doing 4 people, remember to add extra storage in the kitchen and to have at least 2 if not 3 prep areas (eg island and two places on the main counter) and a larger fridge.

.#4 Higher Appreciation Potential:Single-family homes tend to appreciate more consistently and at a higher rate than small multifamily properties over time.

And exciting and for the very few that can pull it off can be quite financially rewarding.. you don't need architect type skills that's not needed until your actually going to build in most cases.. what you need is land planning Zoning city politics and it helps to understand basic underground construction .. but you don't need to be an engineer or especially an Architect to pull these deals off..