I have been watching these buildings and corresponding neighborhoods for quite awhile and I am just waiting for a few more key indicators to flip my direction before making a move. 

This list would contain the zip code and corresponding name of the municipality, and a breakdown of the number of SFRs.

You might also look deeper into Jersey City, like in the Bergen-Lafayette area (the further south in Jersey City, generally, the more dangerous and correspondingly more affordable, so definitely look around the neighborhood and do your research about what you're comfortable with).Best of luck!

Then I eliminate another 20% with my post-showing / pre-application correspondence.

In the basement I have 4 separate lockboxes (~$15 each on Amazon), each corresponding to a different unit.  

Most servicers will limit correspondence to mere account statements so as not to cross the line of the injunction.  

David DuongHi David,I have a pretty good perspective having worked with SunTrust the past 7 years and recently with a Correspondent Lender.I think as they say "it depends on the carpenter not the hammer"I know how SunTrust prices their rates - so when comparing apples to apples I can look at their wholesale rates and I can get one much better rates on my side now.

Which acquistion strategies do you suggest for a first time investor and what corresponding books or home courses?

Here are some of my thoughts:In many areas, the value placed by appraisers (and correspondingly buyers) are significantly lower than the hands off construction costs.

If you get no response to your letter before you close, the day you close send them another letter saying you have bought the property and clearly outline where they should send their rent payment to.If you still get no correspondence from them in the form of trying to work something out or in the form of a rent payment (which in your case would be for the $1200) then file an eviction for non-payment of rent and let the situation play out from there.Hopefully you priced into your offer the cost in terms of time and money that you will incur if you have to evict the tenant.