updated appliances, pulled up linoleum and refinished floors, added electric panels in units, and added instant hot heat/hot water for units Lessons learned?

We recently received a letter from the NJ Bureau of Housing Inspection about registering the property under the Multiple Dwellings Law (NJSA 55:13:1A-1).It appears this law only pertains to 3+ Unit multi family properties, which begs the question why we received it in the first place.

Not so often (at least here) is anyone looking to go with a Class A or B area for flipping anyway- I just say that as it can make sense to get into higher % in some cases but that's very deal by deal based, and not usually a common 'rule')There are a few areas that seem like they're booming right now and I've heard of people getting outbid on deals- which is driving purchase price up (significantly in some cases) which in turn changes the % instantly.

That said, a commercial investor definitely needs two experts when seeking assets:  (1) a hard-working, experienced commercial real estate agent that will spend their time beating the path to find the projects you seek; and (2) a highly responsive, knowledgeable commercial mortgage broker, whose credibility with his/her lender network instantly gives your loan request/project credibility just by association.

If I wanted to make that a 6 unit dwelling instead of a 4, does that make a difference in the zoning of area?  

You could evict....current eviction restriction are only for residential Dwelling units. 

However, since the minimum requirement for a single dwelling residents changed to be 5000 sqft, I can put in at least 5 houses if I can subdivide the lot. 

For example a 2 family might comp out $500k, a 3 family at $700k, and a 2 family with 3 apartments (1 auxiliary dwelling unit   or ADU) might comp at $550k.

"(8) If the tenancy is for occupancy in a dwelling unit that is located in the same building or on the same property as the landlords primary residence, and the building or the property contains not more than two dwelling units, the landlord may terminate the tenancy at any time after the first year of occupancy:""(B) Without cause by giving the tenant notice in writing not less than 60 days prior to the date designated in the notice for the termination of the tenancy"The lenders will not accept it because it cannot be done without you living in there in the first place.

I am getting many inquiries daily, that said, most are on facebook and a lot of them are random/instantly disqualified.