Worse case, if plan for the upside portion aren't approved, I would still see $400k once all is said and done.The only thing I am a little concerned about is the over-all political and economical climate of things in New Jersey... although this particular municipality has weathered the financial turmoil of the past exceptionally well due to proximity to NYC, etc.Is anyone on this site still playing in the New Jersey speculative market? 

As for credibility, your best way to build that is with good communication(listen more than you talk), knowledge of larger economic factors, and knowledge of  your specific market or niche, being highly ethical, and being highly motivated.

@Ahmed Sublaban I think a simple template will do that shows the annual estimated rent less the following: (economic vacancy at 5% of rent, annual tax, annual insurance, annual property management at 10% of rent, annual estimated mortgage amount, and 10% of rent for capital expenditures and repairs).

The Financial Stability Score is a model that addresses the problem and restrictions of using credit bureau data.The Financial Stability Score (FSS) is a complex model to select people likely to qualify for an offer based on their economic stability.

Sure interest rates and economic growth as well as property conditions factor into the equation, but only so far as to establish a price that can be defended.

But absent an especially good deal, I'm not sure I see why this town over one where there's more economic activity.

Obviously you have done the underwriting, vetting, analyzing of well... everything (i.e. economic outlook, demographics, local contractors costs, local taxes, etc.) and established value, made an offer, accepted and closed.

I have been trying to discover a meaningful method to read the areas social structure, economics, etc. 

What I am actually trying to understand is how to evaluate a business and diagnosing any issues with it, while being able to understand what it would take to remedy and make it perform betterI watch YouTube all day and there's plenty about Real Estate, Macro economics, Stocks, Gold, etc., but very little in terms of business.

Focus on duplexes, they cash flow better and you will have far less stress if we experience an economic downturn.