if NJ is too expensive, go an hour or two out. 

It would be a very expensive pet in one of my rentals - so much so that the tenant would decide it wasn't worth it or go somewhere else. 

For investors who want a "perfect property" Rent To Retirement sells new construction homes in more expensive neighborhoods for a higher price point.

For investment properties, 20% down is the realistic minimum these days. 15% down loans exist, but typically are so expensive that they are not practical.

Networking with local investors through BiggerPockets, Facebook, and meetups can help you navigate the market, while avoiding common mistakes like underestimating expenses, poor tenant screening, and hiring the wrong property manager.Good luck!

I bought the land outright but financing the mobile at the time was difficult and expensive. 

We're fortunate to have an above-average income and live well below our means.This summer, we’ll be moving to Detroit (PCSing in August), and we’ve saved about $120,000 to invest in addition to having funds set aside for the home we’ll purchase in Detroit.The reason I’m posting is that I’m struggling to decide how to best allocate the $120k.

It’s smart that you’re looking into multifamily options, it can really help offset your living expenses while building long-term wealth.When analyzing deals, some key things to focus on are rental comps, vacancy rates, and property management costs.

But any improvements are at your risk.. the redeeming party just owes you your cash plus in our state 9% and any VERIFIABLE expenses you paid to protect the asset.

And this is your best chance of house hacking while covering most of your living expense or maybe even cashflow if you buy in the right area.Hope this helps!