I give up...t this point I'm just hoping the Anti-Speculation Tax doesn't come to fruition.

There seems to be a lot of anti-gentrification and anti-development sentiment which concerns me a little.

You'll want to google Nj anti eviction act to see the various reasons someones tenancy can be terminated and the required notice periods.Your best bet is if tenant leaves voluntarily at end of lease and hence no notice required on your side.  

If it's hot water instead of electric, then the whole system will need to be flushed and re-filled with anti-freeze.

They just passed what I consider to be a very anti-investor ordinance that has a lot of difficult rules around crime-free housing.

if mandatedThere's too much of this anti gentrification stuff going around, with rent control then they force landlords to spend $100-150k on retrofitting their buildings?

One thing I would be aware of is if your tenant has a hyper allergy or similar reaction to mold, even mold remediation is not going to create an environment mold free enough for them.  

There are plenty of folks on the forums who are anti-turnkey, but you also want to evaluate it from several positions:1) You have a W2 job and don't plan to quit it to do full time real estate.2) You have no connections whatsoever in a marketplace that you like.3) You want to avoid the cost and time overhead of linking all the pieces together.Well oiled turnkey operations do make their money up front.

It has gained more attention from investors over the last year.Here are some quick facts:  8th Hottest Housing Market for 2014 (CNN/Money).Winner of the 2021 World Games.Law, medicine, nursing & engineering hub.Capitalization rates up to 15.0% (area specific).Ranked #2 for lowest property taxes.2014 median price increase of 12.8%.3-Year appreciation forecast of10.6%.Continued success!

She refused to enter the house becuase of her "allergies."