The rent from the other units will allow your to purchase a more expensive property than you could on your own, which could help you build the value of your portfolio (and equity) faster. 

I worked with an agent who was okay but I became an agent myself because I became so interested in the industry and want to help other people build wealth and become investors themselves.

The previous owner took exceedingly good care of the building and there was nothing that need to be done except to raise the rents.

@Jesse StrengIf you buy turn-key, make sure you get your own independent inspection.

In Jersey City rent control only applies to older building that are 5 units or more not new construction.

. $1,000 inspection could save you tens of thousands.

Reality is most of us who make it long term work our butts off in a W2, save as much as possible and build it over time -- When I see people want 10 properties in one year with no money down - I question how realistic that is, of course anything can be done but is that even the right play unless your sitting on $2-$3M in cash?

Did you know the seller previously or did you have to build a rapport with them in order to do this?

It can help build some incredible relationships and really learn some great tips from the pros!

These methods include: Detailed Engineering Cost ApproachDetailed Engineering Cost Estimate ApproachSurvey or Letter ApproachResidual Estimation ApproachSampling or Modeling ApproachExperience or “Rule of Thumb” ApproachIt’s important to understand the differences between the approaches including which one best fits your property and the reliability of each approach.DETAILED ENGINEERING COST APPROACHThis approach compiles the costs from construction and accounting reports to build a report.