The rate of recidivism (likelihood of repeating a crime) is significantly high with sex offenders.

If you want this to be your business, having access to the most capital at the cheapest rate is a necessity.

Factors you should be looking for are: Job growth, population growth, low unemployment rates, increasing demand for housing, housing price history, and rent cost history.

It may be less expensive going this route than paying a high rate, high fee hard money lender that could possibly do it. 

e.g. is it possible for someone to lend $100k on a deal in exchange for, say 6% interest rate plus 10% share of profits?

Unfortunately, North Jersey is probably one of the hardest BRRRR markets in the country right now because of extremely low inventory, high demand, and pushed up prices because single-family home buyers are buying the properties that we all used to buy to fix up because they are desperate.You can BRRRR, carefully, into many parts of Pennsylvania though but remember that interest rates right now make it very hard to BRRRR.

They seem expensive, but they can probably demand a higher rent rate that will cover their costs.

Rates are high, you are new, and inventory is slim.

I have confirmed what @Garrett Brown shared -- my best option is an SBA disaster loan with a lower than normal interest rate to pay off our mortgage and then I can also hope for / pursue with others a land buyback program for those of us who have floodplain property that FEMA won't reinsure.

I plan on holding this home long term due to the low interest rate (2.75%) and renting it out long term to cash flow and build equity simulataneously.