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.

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

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

For the 700 credit score you could take 1 month's rent as a deposit but for the other 2 you could take 2 months (as an example) due to the risk factor. 

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

Get on a budget, build your emergency fund, pay off all debts, save up.

Your limiting factor is the amount of INCOME you can do this with and for HOW LONG you can do it. 

.• Use some equity from the sale to make this transition smoother.I’m torn between maintaining our current home as an asset and buying  a new smaller house to use as a rental after we move back in versus simplifying and focusing on a single upgraded property Considering factors like market trends, potential equity growth, and quality of life, which path do you think would be most beneficial?

The only rentals I'll consider is if I can do a build to rent.