He takes the same risk as any landlord out there, since a lot of renters would not qualify for a mortgage and default anyway.

It would rent for what I assume $2,500 with one renter or $3,100 if I did rent by the room.

Jersey City is 70% renters and is ranked as the city with the second highest rents in the U.S. after NYC.

I would guess many government workers are renters like law enforcement and state department as they rotate in and out of the field offices to DC.

In order to do this you need to have deal flow and you need to know 1) How to recognize a good, profitable deal, 2) How to put together funds quickly to buy the deal before someone else does and in such a way where you are protected and the deal is protected, 3) How to run the project so that you follow the budget and don't overspend or overbuild, 4) How to attract an end buyer or a renter and which documents to use to protect yourself and the buyer, 5) If you are going to keep the property then you need to know how to set up the property from the start to best help you in the refinance later, and 6) You need to know how you are planning on managing the property from the beginning in order to make sure it will be profitable at the end.

My goal is to rent it out to start generating some cash flow.I’m planning to remodel the kitchen soon, and once that’s done, I’d like to move out to make the apartment available for renters.

if you have interested renters our current property manager will cooperate.  

Easier to find two $1000 renter vs one $2000 renter.3.  

Location and amenities are the two most important factors that bring potential renters to an STR. 

A skilled property manager understands tenant segments and their behaviors, which helps attract reliable renters.