For cash-on-cash evaluation of rental properties, it is critical to identify ALL of  your acquisition costs. 

Jeremy Congratulations - I grew up in that area and cost of housing has skyrocketed while incomes have not, so there definitely is a need for affordable housing in that area (as well as pretty much everywhere else)

If you have high holding costs (financing, taxes, insurance, utilities, etc.) the longer you are holding the less money that you are makingSelling profitably - How long will it take to sell?

It’s a cleaner, more reliable solution, and while the higher subscription cost can feel like a drawback, it’ll save you a lot of headaches and time in the long run.

I've been updating things that need it and lucky enough, I can do the work myself to keep cost down for now, only because it be my first rental.any advise would be much appreciated. 

If it requires a mobile closing we use Michigan Investment Title because they willclose anywhere at no cost unless it's a ruralarea but downside is they require wires for everything which alot of title companies are starting to require anyways.

If you need 10 minimum and have to hold those non-paying tenants until you get 10, what does that cost you in your financial model?

If your goal is passive income, it's not going to be in New Jersey when you factor in cost to purchase, management costs, and rent to price ratio, but what you can get is steady appreciation.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

The overall value of the land and potential subdivision and the harvested lumber will be 10 times the original cost.