@Martti Eckert here's the big issue that no one really talks about that you hopefully find helpful (this is copy & pasted):-----------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Expectations for a higher standard of decor and theming has infiltrated this industry and those are the ones that do well.

My belief is that Praxis is the gold-standard.

Start with a standard offer, and write a contingency into it for electricity, all the below ground utilities, and then work your way to zoning, permitting etc.

So act quickly, do as the others are saying and screen him according to your standard criteria. credit, references, eviction history, etc.

Rehab to the standard of the neighborhood.

Very simple - tell them to call me if they can't figure it out.I would not tell the tenant what I was doing and if it was ever discovered that I had done it - I would explain that I did it as a standard safeguarding of my property - in case the original thermostat should ever fail while no one was there to monitor the space temperature - the backup thermostat would save us all from freezing damage.

Property values and interest rate (but with higher standards) were lower in 2012 than 2007.In general it is often true, but not always.  

. § 2A:18-61.1(f) is an indefinite standard and difficult to measure.

You need to up your standards or life as a Landlord will be very difficult.One violation and I would evict.