You need to understand how to drive the Net Operating Income to produce a good solid return. 

Sellers rarely mind the low deposit and extended closing period due to the nature of the property, or at least they can be made aware of the fact that their lot has issues that will take MY time and MY money to solve and then they come around.My terms on the flip are: Minimum 10K spread between purchase and flip value.  1-2K deposit upfront to hold the property for 7 days then the deposit becomes non-refundable after the 7th day and the buyer has the same amount of time that I originally negotiated with seller typically 8-12 months(its a purchase contract but because of contingencies its essentially an option).  

Since I have a long-term interest in getting into hotel investing, this feels like a natural stepping stone, but I want to approach it the right way.I feel like this is such a great opportunity, especially with it being off market.

It should be producing far better return than the passive s&p to justify the effort.Good luck

Beyond something of extreme nature I find most things are repairable, especially if it’s a rental.

You can go as low as 2.5x in some cases but NJ tends to produce enough traffic/applicants where 3x should be minimum unless property is over priced.

They are highly motivated to produce profit, and our interests are fully aligned.

This amounts to lost opportunity because if you had purchased RE, at the closing it can start producing return. 5) ADUs detract from the existing structure whether this is privacy, a garage, or just yard space. 6) this is related to number 1, but there are many more buyers looking to purchase homes for their family than there are RE investors looking to purchase small unit count properties.

Durham is also more complex in nature than Raleigh.Raleigh stands out as the only municipality with Fast-Track ADU plans to streamline the approval process for homeowners.

ci=Bismarck&st=Nor...This will help you determine how much demand there is and whether or not you can charge enough to cover your expenses and hopefully produce some cash flow for you.