You should target states that have more common sense and people oriented government and regulations (hint-hint: stay AWAY from Dem controlled jurisdictions.

To gain investor confidence, ensure the investment property numbers are real, use the most common contract forms in your state (versus a 2 or 3-page) internet/guru contract form) with appropriate addenda, or an attorney-drafted form and attorney-drafted assignment agreement.

Make sure everyone knows a cleaning schedule, expectation for common areas, how are you splitting utilities, guest policy, etc. 

Funny how things seem like common sense, only after they happened, isnt it?

I'm not sure if this is a local thing or if it's common in all markets.

It is a path not without risk, but it is a common path in this market.Wishing everyone a successful 2025.

Multifamily is the most common one, but some groups also do self-storage facilities, student housing, commercial properties, and others.3. 

@Jason Tucker  you need to add in your utilities, common area cleaning, and turnover costs to determine if it makes sense. 

Ideally, I'd like to find a balance between affordability and potential for appreciation.Also, are there any common pitfalls or things to watch out for when buying a multi-family property in Jersey City?

I recommend educating yourself as best you can to avoid some common mistakes.