If you’re set on condos, ensure you’re targeting areas with strong rental demand and minimal HOA restrictions.Regarding an LLC, it’s great for liability protection, but it won’t necessarily give you tax benefits unless structured strategically.

I'd target areas near colleges or transit hubs for affordable properties, and I’d look into financing options like FHA loans or creative financing to make the most of my capital.

Where are the best markets to target in and/or near NJ in 2025?

With $50k, you likely have enough to get started, especially if you target lower-cost markets or use a strategy like house hacking.

I’ve had to widen my search radius to smaller suburbs or target properties needing light cosmetic work to make the numbers work.Value-add opportunities: Adding amenities tenants love, like finished basements or upgraded kitchens, seems to justify rent premiums in this market.Navigating the competition:Be creative with financing: Seller financing or partnering with other investors has been helpful to secure deals when conventional offers didn’t cut it.Work with local agents and wholesalers: They often have their finger on the pulse of off-market opportunities, which is critical in a hot market.For those new to suburban Chicago investing, I’d say the key is finding the “sweet spot” neighborhoods—ones on the rise but not yet maxed out in price.

Those properties that are obviously vacant - as well as those you advertise for 'immediate occupancy' are well-known targets of squatters. 

This seems to be breaking down new construction and is a national average so kind of hard to read into this what it means in general but I would not expect a 665k new construction house to be my target for a rental property. 

Are you basing this solely on what you can afford, or what you intend to make on it, or your target sale price? 

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You may also want to consider the type of tenant you are targeting.