I am interested to see how this thread progresses this Spring/Summer based on observed occupancies as well as if home prices stabilize or are reduced further if inventory increases.  

I kept reading some apt is operating with DSCR 0.61x ; I bet there're professional buyer in line willing to buy those asset with large discount LOL

But I am willing to bet in the 3 year, probably 5 year and definitely 7 year + frame that these investments will rock any of those one's winning today.

House hacking in South Jersey is actually a pretty solid bet compared to other parts of New Jersey where you are guaranteed negative cash flow.

@Eric Kahn Gale Congrats on the progress and I will agree with the others above me saying that isnt a bad deal. 

Best bet would be to go to your local REIA and ask around. 

In the future, a) get a super detailed Scope Of Work and ironclad Contract. b) Do not pay more money as a progress payment than the amount of work that has been performed, that way you are never ahead of the Contr or vice versa.Your options (depending on how much he owes you) are Small Claims Court, the State Registrar of Contrs, and possibly the local DAs office or State AG if the amount is higher ($50k ish)Good luck, let us know what happens.

I've done my fair share of research, but I believe that having someone experienced to bounce ideas off of and receive feedback from would significantly accelerate my learning curve.I understand that relationships aren't one-sided, and I'm more than willing to contribute and assist in any way I can whether it's lending a hand with your projects, sharing resources, or simply providing updates on my progress.

I see a huge difference in pricing & days on market just making the jump from 1-bedroom to 2-bedrooms, so I’d do everything I could to hedge those bets.

Thanks in advance.KayAssuming your debt to income ratio is actually being calculated correctly and is still too high then a debt service coverage ratio (DSCR) would be your best bet.