Quote from @Desiah Barnett: Hello, my name is Desiah Barnett.

I want to know is it more cost effective or easier to purchase the property alone and put it in a mortgage in our name or purchase the LLC from him that holds the property within it.

I’ll also connect with locals through BiggerPockets or Facebook groups for first-hand insights.If visiting isn’t an option, lean on a reliable local team (agents, property managers) to help vet the area.

I'm assuming with a name like handy pro connections he probably doesn't have a NJ HVAC/R license.

@Taylor DaschYou can buy the property in your own name if it's outside the so-called restricted zone.

In our market it is important to make sure they are a licensed broker, carry adequate GL and worker's comp (and name you as additional insured).  

Hi Jared, I’m a local agent here in Indianapolis and also an investor myself.

Then I work with a local insurance broker give them a valuation of the property, explain that the property is being rented and by how many people.

Being close enough to hospitals and also the University is a good strategy, but would be happy to give you some more info on the local areas here.

House hacking locally is typically going to be the least risky way to get started, even if it is more expensive of a property.