To save some wear and tear on the Xterra, I recently bought a '08 Mustang GT.

I found a multi family that’s within my budget but in the remarks it’s said to be a tear down and there’s a tenant who is still living there.

I am currently tearing through videos and websites to try and gauge demand for such things.Oh, and I'm getting information together to see about rezoning as the property is currently R2 and for Event Space Rentals it needs to be B1 or B2.How can I go about gauging demand for small event spaces in the area ( I'm guessing the house occupancy at 40 )? 

Your price seems very reasonable for tear-down, hauling away the hot tub, and building a new deck.The value of your home has probably doubled in the last four years.

It’s in an area that was recently rezoned for mixed commercial/residential, so I’m thinking it is a tear down with good rebuild potential.

If you are tearing down the plaster/drywall/paneling on the walls and exposing the studs and the plumbing is old (not copper for the supply pipes or PVC/ABS for the sewer pipes) I would update the piping.

We personally pull our specific criteria lists for residential tear downs for development from Remine and Realist (We have access to both as licensed realtors in NJ for free).

I am in Cape May, and we are allowed to do as we wish down here, although the season is a 7-day minimum.You actually stand to do well and have less expenses and wear and tear from multiple turnovers, but those 30-day tenants don't grow on trees, so you are going to want to market hard.Please tell me you aren't relying on AirBnB in NJ - Tenants pay 20-30% more here and you get none of that overage - booking direct saves them that service charge and taxes, so you could actually up your rent and collect more yourself and they'd save $$.

The new finishes will receive wear and tear from a tenant you already have and won't appear as nice as they  would if brand new to maximize rent increase at turnover.

Durable and Cost-Effective Materials:Use durable materials that can withstand wear and tear, especially in rental properties.