Investing in northern NJ is, in my opinion, great, but definitely requires city-by-city and, frequently, block-by-block knowledge of these areas to fully understand the area.Best of luck!

We have a military installation that have frequent family visitors and transitioning families.

If it's turnkey, your general maintenance might be low, but your turnover costs in a lower-tier neighborhood are almost always higher, and more frequent, so if you're not including those in your maintenance numbers, consider that issue as well.Regardless of numbers, I pretty much always recommend that new investor stick to B-class props or higher - more stable tenant pool with more reliable income, no section 8 red tape, lower turnover, generally lower expenses.

The best way to find other places to invest is to think of places  where:1) you have friends and/or family that you'd travel to2) you'd like to frequently visit3) you'd like to reitreGenerate a list of several areas and then narrow down your search by doing the additional research on each area. 

I also increased Capex and put Property Management at 20% because the building is older and repairs may be more frequent and the PM will cost more than me doing it myself.

My capex and repairs are at 7% while property management is at 15% because it's an older home and repairs may be more frequent and PM will cost more than me doing it myself.

One thing that we struggle with our current situation is the ability to visit our close families as frequently as we would like to.

On the other hand, I lived in a condo once where the owners were majority young professionals, didn't want or afford high HOA fees, resulting in frequent budget busting special assessments.

I like that they provide frequent updates on projects so you can feel engaged.There are things I don't understand as far as their accounting...but again I've only invested what I feel (for our situation) is a small amount to continue learning and hopefully earning some decent return, so it's not a priority for me to understand all the accounting. 

Class of properties are frequently mentioned on BP, but its so subjective.What I consider an A class could be B class to another investorWhat if a neighborhood is gentrifying?