We worked him through the process, brought him a contractor, and gave him all the resources along with giving him tips on layout and all.

Thanks for the tips!

@Nevin WilkieGreat tips from @Matthew Becker.

I love to connect with others here who might be willing to share advice, resources, or success stories if anyone has tips for me as a beginner or any recommendations, I’m all ears.

Certainly not impossible, but the multifamily market (especially for larger properties) is pretty active and below-market purchases, while possible, don't happen as often as they might in the smaller property space.Pro tip:  If you still like the idea of purchase cap rate, use stabilized yield on cost instead. 

Great tip, thanks Scott!

@Tomas FalconWelcome to the community and be ready for a huge amount of information at your finger tips.

If anyone has experience with furnished LTRs, I’d greatly appreciate your insights or tips!

One tip is too is reaching out to some people in your market place that are doing flips and see if they can send you their spreadsheet they are using.

Assessments in NJ are not done on sale, unless it's a new build or a complete renovation where the permits tip them to reassess, so every three years or so they reassess all of the properties and taxes go up most of the time.