The economic benefits could extend to local communities, spurring growth and development across the region.

If your hvac contractor tries to sell you a new furnace by telling you it’s more efficient and over one you may save money via energy savings, less repairs, etc that’s fair.

Short-term rentals can definitely help you build financial freedom while giving you more flexibility, especially if your current business is demanding a lot of your time and energy.

Are others playing the long game and hoping for appreciation or is there something I’m missing with the economics of North Jersey?

If you want appreciation, identify markets with expanding industries, positive growth trends, and bright economic forecasts.

It's a matter of time vs energy and who, not how.

Also for every 50 props that are up for auction in most states the vast majority either redeem postpone BK sell or whatever so most folks hone in on one property spend all this time and energy and it never actually goes to sale.

I have an IT career, but like some others, I'm looking at economics these days and realizing that I need to make a change to get to where I want to be. 

I’m a 21-year-old college student majoring in physics and economics, I am the president of the Commercial Real Estate Club at my University, and am preparing to enter the investment banking industry after graduation.

To avoid this, some GP's find it worthwhile to spend more of their time, energy and resources on raising equity in smaller increments.