Do certain properties need upgrades in order to maximize rent potential?

Quote from @Timothy Newsome: Hello, looking to potentially use a hard money lender in NJ.

My goals are small multifamily to financial freedom with potential to scale to large multifamily for great success.

The deals are really so sparse that you can sit and wait and wait and wait for the right deal in a specific neighborhood or you can look at all potential deals across the Metroplex and beyond.  

It’s clear you had a sharp eye for opportunity with this duplex, especially given the prime location and potential for adding value through additional bedrooms.

Four properties provide diversification, greater potential for appreciation, higher aggregate depreciation deductions, and increased cash flow over time but involve more management complexity and higher leverage risk.

This property had significant potential for value enhancement due to its location and condition.

I understand Vermont has slightly more stringent regulations to contend with but it would also be closer for us geographically and thus potentially easier to manage.

Probably the hardest thing some of us ever do is give ourselves permission to risk failure to succeed. 

We decided the cost was too high and it was not worth it from a financial or risk perspective.