I would check this out with a seasoned securities attorney for their opinion/guidance.  

I am very much an expert on Hoboken and Weehawken.

A good property manager can help with tenant screening, enforce lease terms, and handle evictions more efficiently if it comes to that.Require a Larger Security Deposit: Within the bounds of local regulations, a larger deposit can provide a cushion in case of damage or unpaid rent.Consider Rent Guarantee Insurance: Some companies offer insurance products that can cover lost rent in case of tenant default.

Additionally, there’s always a risk that any pet-related damages could be hidden under furniture or otherwise concealed, potentially leaving us to cover the costs if the security deposit is fully depleted by other expenses (e.g., damages or unpaid rent).

Ensuring a solid lease agreement and security deposit will help mitigate this.

Utilizing my relationship with a great local lender I started the process of getting a secured line of credit set up against the 3 unit so I could pull most of my money back out.

I have lived here for over 30 years and am a licensed broker here, as well as having all of my rentals here in town, and would consider myself an expert on this market.Don't listen to anyone lumping JC in with Watauga Lake or Roan Mountain.

But be sure to consult with your own experts and accountant.

Specialist tend to get large volumes of clients as they are seen as the expert in the field.

With careful planning, you can develop a portfolio that consistently outpaces inflation and helps secure your financial future.I hope this helps.