(rust belt) and not Canada  (short sales simply do not happen here for a variety of reasons ... perhaps fodder for another thread).Another BP member has already walked this property and based on the resultant list of observations/defects, I have an acquisition price range in-mind.  

During an eviction or whatever.They might end up knowing more about your personal life than you'd like, just by observing what's going on at your house ("Looks like LL is on vacay...")My personal opinion is the pros outweigh the cons and close rentals are a great convenience.

What you describe can't be missed from the casual observer.  

So that argues in favor of one LLC per property.If you co-mingle funds between yourself and the LLC or between LLCs, you are ignoring the corporate separateness of the LLC and providing grounds for a creditor to "pierce the corporate veil" - a fancy way of saying that they can ignore the LLC, too, and reach the commingled assets as well.So, if you are going to bother having an LLC, it's critical to observe the property formalities, like separate bank accounts and hiring bookkeepers and accountants to keep your books and tax records in good order.Presumably, you are in this business to build long-term wealth.  

From my complete novice perspective (I thought I was interested in it and went to a few, and I didn't bid on anything... just observed):1) There are some decent databases for NJ tax liens... they list when each municipality has their auction and which properties have a lien for sale. 

Any observations as to the change of environment in the area since four years ago?

That is an excellent observation, Mike, and that is extremely true.

Yes, as some of you observed this project was a big too big for the first one.

Your suggested plan of observation was what I had in mind, though my target county does their auction over the internet.

Without the details, it will be hard to point the areas of concern but here are my observations:1.