The difference is $4k that we could put into savings, or pay down our HELOC.

I wanted to get different thoughts on potentially using seller finance to handle this deal.

As I tell all landlords, New Jersey is a different animal than any other state. 

However, I do rely on my trusted network of local professionals for different parts of the process.

If you remodeled, added a room, replaced a roof, painted, boosted the curb appeal, etc. that's a different story.

You can always hire a different PM company.

They remain distinct on Form 1040 with different tax treatmentOnly capital losses can offset capital gains (except for the $3,000 allowance)So even though material participation makes the loss non-passive, it's still an ordinary loss that cannot offset capital gains from stock sales on the return.The only way capital losses can become ordinary is upon the sale of your property, and that loss could offset your W2 salary.  

These numbers show just how different things can look depending on the region.Meanwhile, the existing-home market is feeling the strain.

When investing in high cash-flow markets, I always recommend working with an investor friendly agent so you're able to gain the right insight on the different areas and the risks involved.

How long it takes to be financially ready is different for everyone.