Investment Info:Single-family residence buy & hold investment.

Northern New Jersey has very little land, therefore the price to buy land is too high unless you somehow get it at a great price.

Seems like his option will be to buy it with a conventional loan with 5% down.

And what are you looking to buy, SF, 2-4 MF, or 5+ MF?

How many people hours at what pay, plus cost of buying lists, plus skip tracing, plus phone/texting charges, plus office overhead and so on and so on.Noobs think texting is cheap to free ;-) 

Groovy @Stephanie Medina good luck and keep us posted on your progress.These sorts of things are problems that no one really things about when buying a property and it is something that should be in their mind.

Otherwise, the tenant will make excuse after excuse to buy more time as they fall further and further behind.To find an attorney, suggest you visit your local court and lookup the landlord-tenant docket to ID attorneys with the most cases.

The VA and Fha loans have been able to do it but their strict appraisal guidelines make it tough to buy the often older homes in my market in Virginia Beach / Norfolk Area. 

We are considering stepping in and trying to buy the place, but looking for some guidance on STR and what kind of money this place can bring in. 

So shift your expectations to most of the cash out and you'll be good and you'll actually start buying deals, versus people who wait for the perfect deal, spin their wheels for 6 months terminating contracts/analyzing hundreds of places, and then eventually burn out and give up.