Also, I recommend setting up your holding company in a business friendly state like DE, WY, or NV, and bucket all other LLC's under that. 

If that's the case, I'd prefer A class because of the higher quality tenants and newer physical structures (lower maintenance expenses)- 20% IRR can be achieved de facto but if someone underwrites for 20% IRR, I'd be very careful.

They can claim a de facto month to month  lease.

The lot is in a good location at the end of a cul de sac with close to an acre of land.

Hello All,I'm not in NJ but located pretty close (Delaware).

Originally posted by @Stefan De Jong:These numbers seem accurate, I am a Realtor and currently looking into buying our first SFH investment property.But it seems very hard to find properties where the numbers make sense in the current market.Home prices have risen so fast in the last 6 months, and rents seem to be lagging behind which makes it very hard to get a good return on investment.This!!

However, information in the surrounding counties is harder to come by.A few questions for those of you who have experience with the Housing Choice Voucher in Delaware County, PA and Camden County, NJ:Are the payment standards for these counties published anywhere? 

My understanding is that TLO is the creme de la creme.

I have family in Delaware who I see a few times a year, so I'm thinking why not?

@Jeffrey De Los Santos happen, but they are difficult to get unless there's distress.