The State of New Jersey has just passed a bill that would ban the conversion to condos for all housing only in Hudson County.

The thing that would put it over the top, is when it gets a fully editable and printable scope of work builder, along with the ability to edit some of the other forms.

The ability to create equity and cash flow without “finding” deals is beyond amazing even with the upfront cash challenges.

Congrats on building that :) As far as the ability to purchase it as a primary with 5% down, yes you definitely can.

For real estate investors who are investing in debt financed real estate, or real estate syndication, the ability to invest with a 401(k) Roth, avoiding UBIT/UDFI and compounding tax-free growth, can be really powerful! 

It has great potential and the ability to cash flow nicely.

No offense, but I hate the idea.You can send someone a bill all you want, but they aren't going to pay it, which means that all you are going to end up doing is turning off their account. 

They will based on the comps and your ability to repay the loan.

Value adds that could bring up cashflow/value:- renovating units to bring rent up to 6-7k/month - ability to rent out parking space on the property as lot is large - trailers, parking, RVs etc - about 1-2k/month cashflow. - property had TDR trasnferable development rights and can be built 5 stories on it.

If you are not starting from a very strong financial position and you do not have the ability to quickly stockpile cash quickly from other means then I definitely agree with that statement from the book.