The landscape is just different than even the last 3 years with people making bad calls but getting saved by significant appreciation. 

On property number one, I would cash flow $750 a month after mortgage, taxes, and insurance if I also rent out the unit I live in.

NJ has the highest taxes per capita in the country so high taxes are expected especially in Northern NJ.

If you’re interested in investing in real estate, you can consider doing so with a Self-Directed IRA to defer taxes on capital gains until you actually withdraw the funds from your IRA.

If the permanent financing will allow you to recover most of your initial investment and the fair market rent covers the principal, interest taxes, and insurance with cash left over, you have a BRRRR.

Increase your earnings, reduce expenses, save up, and invest.

Did you have taxable income that could’ve been reduced utilizing tax strategies?

We were initially looking out of state for a potential move and or investment property just because the property taxes without being able to homestead, plus high cost of insurance, and harsh weather on homes made me feel like it might not be worth it.

I assume they collect a proration every month for property tax?

If I wasnt going to be doing this I would just be saving more money and staying for free with my parents.