NJ is very blue, liberal, tenant friendly state.

The way we have done it is to borrow from my 401K, when I pay mine back borrow from hers and repeat this cycle so we always have one we can pull from. 3) This option will be controversial but I have taken out private money loans with family and friends. 

I've read BiggerPockets' Real Estate Investing book and am particularly interested in the house hacking strategy, as I'd like to move out of my current living situation.Our main dilemma is choosing between a single-family home (renting out one room to a close friend) or a multifamily property like a duplex or triplex.

Im not a realtor, but i do know of many investor friendly agents here.

This is not yoursituation, but just to walk through the different thought processesin Holding/Selling that a friend of mine is going through.Helped my friend getinto the Self Storage business and walked him through the wholeprocess from evaluating the market, selecting a site, developing thesite, systems, financing, insurance, etc.

If not, I can put you in touch with an investor friendly agent in the area who can help. 

Find a good lender, get pre approved, make sure you practice running the #'s using the 100's of videos and guides from BP, find an investor friendly Realtor, and then start making offers on any property that meets your goal.

Fortunately for me all my friends have already called dibs!

Only in this way can they stand out in this ever-changing environment.

Maybe knock on a few neighbors doors and ask some questions.I've found in Texas most people are pretty nice and friendly...the tax assessor people, the appraisal district people, the sheriff's office, maybe the county commissioners, etc.