They may feel that you should have been more proactive in managing the tax implications, especially since you initiated the sale.Profit and Loss: It's understandable that you feel the taxes should come out of the proceeds, particularly since you incurred losses while operating the property.

Initially renting is likely cheaper, but when you purchase with a fixed rate loan most of your expenses are fixed cost.  

I was initially thinking virtual but am open to in-person if that is recommended. 

The initial searches and investments will likely be in New Jersey as well.

We're exploring ways to start acquiring rental properties with minimal initial investment.

Never been believe it or not lolI guess I'll have to keep 1 unit empty just for us hahahahaZoning is commercial (Duplex qualifies for this).Initially wanted to change back to residential because we could get higher exit dollar due to area if can change to residential (Got comps in the $130,000 all day, take $10,000 - $15,000 off for main road and it's a $115,000 property)We could have done this as this property was residential long time ago but when it comes to the city on anything, I prefer staying away.Incompetent delay after delay so best is to just keep things the way they are.Plus, single parents would love a nice 1 bed, 1 bath duplex in the Washington Local district so it will work well.Thanks mate 

In these cities, your financial resources will go a long way enabling you to assemble a diverse multifamily portfolio and initiate a steady stream of income.

Again, I strongly believe this is far from over and it would not be prudent base investment decisions on this initial ruling.

So, as the first property would be a triplex or fourplex, I was in the understanding that I could use 75% of the income coming from that initial owner occupied purchase towards my debt to income ratio going into the next purchase.  

I didn't see where you captured the down payment you'll need to get bank financing, or the costs to close the purchase, as part of your initial investment.5.