In short, securing an STR permit isn’t easy unless you fulfill all the township’s requirements

Here security deposit and most of the first month's rent are supposed to be paid by NJ Victims of Crimes.Fast forward now:- she did not pay her rent of January.

I just secured a deal in Solterra which seems to have everything in order regarding rules.

I guarantee you are more likely to secure favorable terms if the seller likes you and can imagine you as a great operator for the business.

Which one is more appealing - continuing to own the house or the security of that much cash/liquidity?

They’re asset-based, meaning the loan is secured by the property itself, and they often have quicker approval times but higher interest rates (think 10–15%) and fees.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Focus on key areas first (like floors, walls, kitchen, or bathroom), which may help you handle the costs more gradually, even if it means moving in furniture or updating fixtures down the line.Also, since the tenant left it in rough shape, be sure to document all the damage (photos, receipts) in case you decide to pursue reimbursement through their security deposit or in court.

Security systems are easily outsmarted, that’s the point of the initial visit, to case the joint. 

Creative financing options like seller financing or assuming a low-interest FHA loan can also help you secure better terms.