@Roy Kinzer Rent control in NJ can be a tough pill to swallow and unfortunately has caused many of my deals to fall apart quickly once buyers/future landlords realize how strict the controls can be.

However, in areas with little appreciation, all investment capital must come from your savings.Summarizing, a city where you can achieve and sustain financial independence must have the following characteristics:Significant and sustained population growth.A pro-business environment with a metro population >1M.Rapid and sustained appreciation.If a city doesn't meet all these requirements, achieving and maintaining financial independence will be difficult.

And the cracks mostly follow the drywall seams from what I can see, which is typical....And as @Patricia Steiner said, it doesn't look like a pro installation....You could ask the Contr to use a flexible compound if this happens again, or maybe even now...https://www.dap.com/products-projects/product-categories/pat...Like everyone else said, I'd have it repaired - by a licensed Drywall Contr. - and then just check in on it.

Hey @Joel Oh, so let's clarify the NYC rules around STRs.STRs are legal in NYC as long as these directions are followed."

Hi, long time follower, however not too much on posting.Goal: I’m looking to purchase a 3 family property in central CT.Position: Currently I own two condominiums that are under an LLC.

Or just wait until a year passes and he can rent it out  Following - I'm based in California in The Bay. 

It seems like the tenant is being respectful, following the rules, and is not being a problem so I think that is what you would tell any other tenants who ask, as long as you have seen the card.

I looked at some land in Tampa awhile back but their zoning seemed a bit more strict so we stuck to our market since I wasn't local. 

You'll have more flexibility with non-traditional lenders, traditional will all follow the same Fannie/Freddie guidelines.

And Jonathan Greene is right, don't stick to strictly real estate, diversify.