Quote from @Jim Bryant: So, here's how it turned out:He showed up completely unprepared to back up any of his claims. 

If they were part time and weren't up to date on training, most probably go away. 

You don't know for sure exactly what their occupancy rates are but you can certainly get a feel for it by seeing what future dates are open.

I am going to have to have my realtor make an addendum to the lease. the tenant has been paying for utilities up until this point. has anyone ever been through this?

I suspect the person who originally turned it into a fiveplex only applied for permits to make a fourplex and then did the 5th unit fly by night (perhaps at a later date) in order so the property would still be considered residential and allow for better financing possibilities.

Your best bet is to go to real estate networking events near those areas and talk to those who have invested in those areas.Best of luck!

There are some great meetups in Northern New Jersey that you can find in the Meetups and Events section here.

For insurance you often have to have a certain amount of access to get to furnaces, hot water heaters, and electrical panels.

Hey Nick,Great to connect!

I've managed up to 400 rentals and never offered a concession.