Rental demand is high there, but so are home buyers looking to purchase properties there which makes it a bit of a competitive market for sales.

What condition are those units in and the metal building ? 

Because it will be very hard for you to know if he is selling you a deal in a good neighborhood, in good condition, and then placing good tenants.As others have suggested, see if there is a syndication deal that fits your investment goals.

Without knowing the condition of the property, that is the main thing.

Research local rental rates to set a competitive price.

However, JC as you know is overrun with new build multifamily options so there is a lot of competition in Hudson Co whereas the suburbs there is none.It really depends if you need the money to buy a house out there and want to plant roots.

The location, price, and condition created the ideal situation for our team to make an educated offer.

It's worth noting, however, that in the long term, housing markets with abundant vacant land can significantly increase their inventory if policies and economic conditions favor builders.In markets like Las Vegas, where undeveloped land is limited, and population growth is strong and steady, housing inventory will continue to tighten.

The planned renovations aim to enhance the property’s condition, allowing for significant rent increases and maximizing the long-term income potential of this eight-unit apartment building.

Definitely appreciated.I have been to quite a few of these auctions and seen first hand how competitive things can get.