Best part is NJ is not what its made out to be in terms of landlord friendly, the state gets portrayed as the entire state being bad when really most wacky laws are in the major cities and they apply to 5 units or more.  2-4 unit multi families fly below radar per say. 

And given that, in a major city, there are hundreds of houses put on the market weekly, you need a method to efficiently screen properties to make sure they won't bleed money before you spend time analyzing, touring them ect. 

Eamon,Any time you face a major issue with a bank/lender and they fail to refund your money or it costs you money and a lost deal due to ignorance or bad lending. 

I use the major platforms, CashApp, Meta, Venmo, Zelle.

Major issues are lack of parking, lack of elevators, leading to numerous unlived in units.  

I'd be surprised if there was anything substantially more than this that took place, and I'd be shocked if it caused anything to change for 2025, only 2026 onwards (for major things that is).Which is exactly what I call guessing  ;) 

Distressed property but did not need major renovations How did you find this deal and how did you negotiate it?

In that burnt-out back unit, we have started the transformation!

.✅ Secondly, good cause has a max cap on yearly rental increases at a certain margin above CPI or 10%, whichever is less.For those of you who own stabilized, high quality housing like we do, this shouldn’t be a problem.But instead of keeping rents flat because you are a nice person or increasing just a little bit, you could get yourself in trouble when it comes to funding future major repairs and capital expenditures.As long as you are increasing to what the market will bear, you will be in good shape.Also if you are looking at purchasing blighted, dilapidated housing with the intent of raising rents and financing improvements to the property, you will have to take this into consideration and buy accordingly and on in place rents not projected rents.On the implementation side, however that pans out, you might be able to get these necessary rent increases to finance repairs but you may need to go to housing court in order to get the green light but we are just not sure at this point and remains to be seen.✅ Thirdly, in regard to objectionable tenancy and nuisance caused by disruptive tenants, you will need to document these violations with undeniable evidence.Because police reports are not usually able to be procured due to disturbances like drug trafficking or domestic violence, you’ll need to take matters into your own hands on producing that documentation.I recommend getting security cameras installed in all common areas and outside your properties.I’ve used SimpliSafe security cameras but you’ll need to install WiFi service at your properties so that you can maintain recordings in the event of violations and add to your lease that any tampering with said cameras constitutes a lease violation as well.This is still developing and once we get further clarity, we will host a round table with legal experts on how to best protect our properties and residents.

Nicholas L deserves a major shout out in regards to looking out for others too.