I was able to negotiate about 10% discount that was purely circumstantial, I'll let time do the appreciating passively instead of running a 6 months construction project with holding cost.

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

So you must cover that 10%, holding costs, and have reserves for overruns. 

I currently live in NJ, but before I make another purchase here, I wanted to see if there are any location that have buy and hold opportunities.

I’d recommend holding onto the property if you can manage it.

Co-founder of Visio Ltd, operating a real estate investment fund across 48 states dealing in distressed single family homes sourced from financial institutions and sold to fix & flip and buy & hold investors. $100 million equity & debt managed.

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

With investment properties, you can typically borrow up to 75% of the appraised value - significant funds if the $245,000 estimate holds.

I am licensed in FL by division of hotels & restaurants and also a licensed RE broker so me holding funds in escrow is not an issue. 

Don’t ever invest and hold.