If any or all of those are near needing replacement then that will drastically change your numbers. 

So, either the borrower has to pay closing costs out of pocket, or the lender has to price the loan in such a way to cover most or all closing costs.

I was shocked to learn that the tax implications of flipping property in New Jersey could make it cost prohibitive (eat of most or all of the profit).

It occurred to me that in markets like these, finding off-market deals or all-cash only properties was the way to go, eliminating those "investors" that pay way too much for properties and only have access to traditional financing.  

I found it best if they were a friend or relative to approach them with when it is time to decide what your going to do with the real estate I would suggest that one, or all of you keeps it.

Most or all other factors are ignored. 

The rock starts do any of the following by time blocking with dedicated time to any or all of the following:- door knocking- cold calling- open houses- following up^ That is a very basic, broad view, as you can narrow the above down tremendously.

Percentage of tenants that cause damages or leave the place dirty to cause them to not get back some or all of their deposit?

My questions:- Is there an account (money market/savings) where we can stash a large sum that will cover some or all of the 3.5% interest we're paying on the money?

Will landlord insurance be good enough or will I need one or all of the following:1) Dwelling policy 2) Builders risk policy 3) General liability Umbrella