That's why they call it speculation.If you are serious about getting into the rental property business, then I would strongly suggest doing your homework.

Well, theorerically you could just keep making payments on the original seller's note, but I would strongly recommend that you refi if your going to 'buy and hold'.

I would STRONGLY suggest that you buy a book (or two) on this subject and do some serious research.

I'm strongly considering starting my investments there instead of NJ.

I would agree with the earlier posts in that it looks a little soft.That being said, Retail Centers are probably the most sought after property type in commercial and regardless of accuracy of expenses, I would say it always comes down to the opportunity to add value, the quality of the tenants, and the terms of the leases.For example, if you have some strong national tenants on Triple Net leases, people are willing to "overpay" for that type of property - at say a 6-7% CAP.

I would guess that your strong background in the industry will provide you with a solid and knowledgable foundation for this next step in your life.

I have a feeling the current market is scaring off potential buyers, and the area has a strong smell...I'll have to look into why it reeks of cow patties, but other than that the homes are very nice.So what indicators should I be investigating?

If you are currently renting, you might want to make your first purchase something with strong equity that you can live in for a short time.

I have a strong background in communication and marketing/relations, so I think I can do well with that.

I plan on developing a strong business.