If you’re set on condos, ensure you’re targeting areas with strong rental demand and minimal HOA restrictions.Regarding an LLC, it’s great for liability protection, but it won’t necessarily give you tax benefits unless structured strategically.

I'd target areas near colleges or transit hubs for affordable properties, and I’d look into financing options like FHA loans or creative financing to make the most of my capital.

Where are the best markets to target in and/or near NJ in 2025?

With $50k, you likely have enough to get started, especially if you target lower-cost markets or use a strategy like house hacking.

I’ve had to widen my search radius to smaller suburbs or target properties needing light cosmetic work to make the numbers work.Value-add opportunities: Adding amenities tenants love, like finished basements or upgraded kitchens, seems to justify rent premiums in this market.Navigating the competition:Be creative with financing: Seller financing or partnering with other investors has been helpful to secure deals when conventional offers didn’t cut it.Work with local agents and wholesalers: They often have their finger on the pulse of off-market opportunities, which is critical in a hot market.For those new to suburban Chicago investing, I’d say the key is finding the “sweet spot” neighborhoods—ones on the rise but not yet maxed out in price.

Those properties that are obviously vacant - as well as those you advertise for 'immediate occupancy' are well-known targets of squatters. 

Taking the earlier example, if you want to cashflow $120k a year, one way you could break it down is by setting a monthly target of acquiring one asset a month that cashflows $10,000.

This deal highlights the power of well-executed renovations and a strong partnership in achieving impressive profits.

The issue with watering your foundation is that you have to do it always, every year without a break in order to achieve the desired effect.

Are you basing this solely on what you can afford, or what you intend to make on it, or your target sale price?