I also help out of town LLs with consulting services to stay on top of their properties here. 

Welcome to BP and congratulations on seeking to begin your real estate journey.Are you looking to invest, purchase a home to live in, or perhaps explore commercial properties?

I want to explore if I can use this property to raise funds, economically under Reg D 506(b) using custom STO token and pay the Bank.Any ideas!

Auction Sites or Distressed Property Listings: Sites like Auction.com or Hubzu sometimes list properties that need work but are in decent locations and within budget.Given your experience with renovations and your budget, exploring these options might get you closer to what you're looking for without having to compromise on property age or potential renovation challenges.

If you aren't already aware of the tax benefits of Airbnb you'll want to explore this. 

I'm looking forward to eventually managing a portfolio of rental properties, though I'm still exploring the best locations.If anyone has any tips or resources, feel free to send them my way.

Take your time to explore the different strategies, and when you're ready, you’ll have the knowledge to take action confidently.

Is there another part of town with similar numbers, neighborhood, and age of homes?

North Jersey is very town by town so tough to say more without additional details. 

It seems like each town has its own regulations and limitations.