Marc Winter your daughters may be different but if my parents offered me free rent or living accommodations I’d do that in a heartbeat over paying 2500 rent.Unfortunately my entire family lives in the cold Midwest and after moving away at 18, I’m not about to go back there.

I didn't loose the forest through the trees but the trees are important in investing and lend credibility to the story. 

If someone took gas/heat out of their name randomly in the middle of winter I'd be concerned, but not here. 

So you are essentially looking at 1500 a unit for a 3bd- 1200 a year for insurance seems low, to be honest- unless you got a quote for this prop 2160 a year seems low for taxes 1200 for lawn/snow a year is high... this winter was bad, and it also depends on if you have a driveway etc or just street parking Closing costs- you can get a good faith estimate from your lender- they may be a bit higher Also, you want to consider if you would be inheriting tenants.. or if they are way below market rent, 

That means by Fall-Winter I could have 5% ready. 

The minimum openable area to the outdoors shall be 4 percent of the floor area being ventilated.Heat Source- RequirementsR303.9 Required heating.When the winter design temperature in Table R301.2(1) is below 60°F (16°C), every dwelling unit shall be provided with heating facilities capable of maintaining a minimum room temperature of 68°F (20°C) at a point 3 feet (914 mm) above the floor and 2 feet (610 mm) from exterior walls in all habitable rooms at the design temperature.

It worked great until winter hit and they couldnt hold the bookings I was holding.

I am about to list a place for an investor colleague of mine in Forest Park that has literally appreciated 200% since he bought it during the crash.

Explain you want to rehab the home and everything, be upfront.At the end of the day in NJ, you cannot do anything to their lease when you purchase the property unless there is a clause in the lease stating that the lease is voidable if ownership of the property changes and the correct amount of notice is given.With it being winter, even with the above scenario a judge would probably side with letting the tenant stay until warmer weather comes.

During the winter I make trips up to Tahoe to go snowboarding and also enjoy some mountain biking throughout the year.