If you don't already have boots-on-the-ground and a trusted network, it's going to be tougher to do.

If it's uninhabitable or in need of major repairs, that's a no-go for DSCR. 

I would keep it in a high interest bank account might as well earn as much gain as you can no matter how small it is.However I think some debt pay down would be great not to the point where you are not liquid enough to Jump at another opportunity or can’t make a major repair when it arise.

They have been incredibly transparent but they are currently deciding on a capital call or selling the property at a major loss (70-80%).

Let’s cut through the nonsense: this isn’t about networking.

In all major cities, especially ones with a higher crime index, unless you study the market and know it, I would never rely on someone else to choose a block.

depending on where you are in NJ you might have the Lehigh Valley in PA a couple hours away, or Delaware, etc. you can go to meetups, see places in person, and start to build a network.

I found this deal as an off-market property through my local network in the Hamptons.

@Devin Peterson Definitely always down to network.

So, really FHA is not even an option in the majority or markets today.