Cash flow approximately 350 a month.Option 2: Use the cash to buy land to build a 6 bed 4 bath duplex, all in cost approximately 300k/330k. 

Investment Info:Small multi-family (2-4 units) buy & hold investment.

In North Jersey, buying is difficult from my beginner perspective with high prices, property tax, etc.Barrier to entry feels high in my area.

Rents too. 5-10% more reduction and I will be buying here.

Quote from @Jaycee Greene: @Orlando Johnson Are you still looking at buying this property?

Step 2: Narrow down your "buy box" (are you market-indifferent, are you looking for a certain level of cash flow, etc.).Step 3: Connect with real estate agents and begin making offers!

Investment Info:Mobile home buy & hold investment.

Look for motivated sellers off market and market via cold calling and or direct mail, geofencing, advertising and the like.A good wholesaler is as @Ericka Parrott mentioned, direct to seller, did good underwriting and can deliver an actual "Deal" whether buy and hold or flip. 

We are entering the prime buying season - find other local investors and get their interest.With that said, there are a couple things that are unclear from your post. - The as is appraisal was for 275K,yet you are now expecting that it would be a reach to sell for 220K.

Huntsville was the market to be buying in ~5 years ago.