The previous owners were heavy smokers and that smell has saturated the house.

I believe the STR markets are saturated beyond sustainability.

We also replaced the plywood in several spots where the pet urine had saturated the floor. this has really helped.Michael

How the heck am I supposed to start my  dream of real estate investing, in a market so saturated and expensive!?

If they accept my offer, I know I'm making a fat check, and that is why I make it a point of telling sellers I have ZERO contingencies.

A lot of people are looking in Hoboken/Jersey City - but these markets are very saturated.

Yeah, the rental market here is definitely over-saturated (due to several reasons).  

This is dangerous because the seller has an incentive to minimize expenses in order to make the investment look as attractive as possible in order to get it sold; the real estate agent stands to earn a fat commission check.

Thank you Pros.PS- I heard that there are fat margins on windows so maybe a motivated supplier on a diet will sell them cheaper?

Having a non cash flowing house  with a heloc on it is like marrying a big fat Chic with long blonde hair .