A couple of thoughts specific to condo investing:1) Be sure to include the condo fees into your cashflow analysis, and budget for potential assessments as projected capital expenses2) Make sure the condo association is solvent - a good litmus test is whether or not the units are approved for FHA financing3) Make sure the condo association rules/regs allow for rentalsGood luck!

There are STR specific DSCR loans that account for the previous revenue if you are buying one that has been going already.Read Avery Carl's STR book from BP and also follow Bill Faeth, Kenny Bedwell, Taylor Jones to start with to get an idea of what is happening in STR right now.

.), the location, depth, and capacity of utilities to service the site - including public utilities (sanitary, storm and water services), franchised utilities (power, gas, cable), capacity of the local streets to accommodate additional traffic from your development...Be sure to find out if there are any specific local ordinances you need to satisfy (possible tree & wetland surveys, together with any necessary tree & landscape or wetland mitigation plans) and whether there are any concerns from municipal departments (e.g. hydrant locations from the fire department, storm inlet and retention requirements, as well as asphalt / concrete road requirements from the engineer), entrance requirements from the road commission (left turn and passing lanes at the site entrance), etc.Once you get past all this you can finally prepare a preliminary site plan and enter the political arena to get preliminary site plan approval, and to address any concessions the board and neighbors want from you to overcome their objections to your development.

Additionally, if there is anyone in or around Minnesota that has any state specific advice or contacts, I would love to get in touch to expand my network. 

I can't specifically help you with regards to Irvington, New Jersey but I would definitely recommend going to your local REIA group meeting and asking who other investors there use.

Every business is unique, so the decision should be based on your specific needs and risk profile.Before making the switch, consult with your insurance broker to ensure that a program-based approach is right for you.

I know that doesn't specifically answer your question, but I truly hope it helps coming from an long-time, ex-banker.

Here's why.Each tenant segment has specific housing requirements and won't consider alternatives.

If you have any more specific questions or need further guidance, feel free to ask.Good luck with your project

Technically they aren't breaking any rules as long as they're not specifically promoting themselves.