The quicker you can take action on the high dollar value decsions the quicker you will be able to grow.For sure take the time to setup the right foundation, but keeping it simple and easy when you are getting going is a safe bet!

What was the population of the metro on this one?

I've posted about Boutique hotels previously being the next high value investor asset class.. there are several examples of properties that have made 2024 improvements and nearly doubled the income and asset valuation.

Next, and again my current experience is in a different industry but one that's a highly dependent on Google reviews and ratings, I've found that there's always a break-even point where "paying someone off" doesn't provide enough of a return on the payoff. 

Unless you are confident in estimating the renovations needed, I would highly recommend getting a contractor's professional opinion of the rehab costs.

@Tomas Falcon highly recommend you chat with @Samuel Eddinger!

Since tax bills are for entire parcels (typically, though not always) then it is highly unlikely that they somehow segregated the taxes for that small portion and paid it.

My suggestion is to buy a property worth more than $1M since anything cheaper for 4-plex will not be high quality.

The truth is that New Jersey, especially Northern New Jersey, is a tough investment market due to low inventory, high competition, and high taxes.

The risk is too high of losing everything.