@Roy Kinzer Rent control in NJ can be a tough pill to swallow and unfortunately has caused many of my deals to fall apart quickly once buyers/future landlords realize how strict the controls can be.

Keep in mind rent control is 1 thing, its a laws for existing tenants but some city's like Newark are so strict that you must get approval for what rent can be even after a tenant moves out and new ones move in. 

Want to give you kudos for using a servicer as there are very strict rules to follow to comply.

However, the process can be complex, with strict timelines (e.g., identifying a replacement property within 45 days and closing within 180 days).

I appreciate the insight that you and John offered regarding the lack of value in the business itself and strictly the land + improvements.

Best regards, This approach is neutral and objective, focusing strictly on the criteria, and avoids discussing any specifics about the applicant’s personal situation.

Budget carefully, prioritize high-ROI renovations, and adhere to strict timelines to maximize profitability.

Would you be looking to owner occupy the property or strictly as an investment?

Lenders often have strict policies when a property is in a FEMA-designated disaster area to protect their risk, even if the property isn’t directly impacted.

Strictly advice to move forward in these ventures.Your attitude may be the best thing about your ability going forward.