To many times we are forced to think of the tangible elements such as size, layout and finish of the actual apartment but if you forget to consider these added elements such as a fence and what feeling it brings to the site you could be leaving money and a better tenant profile on the table.

Get Permits, Demo, Framing, Rough (plumbing,HVAC, Electrical) , Roof (if needed) Inspection, Insulation, Siding Get Layout and Order Kitchen Cabinets, Sheetrock, Spackle, Primer, Floor installation, Order finish Material, Molding, Doors, Granite Pricings, First coat of paint, Install cabinets, Order Granite (2-3 days).

This rental property will be designed with a keen focus on generating a healthy cash flow.Project Blueprint:Budget: Allocated at $200,000, covering construction and all related expenses.Focus: To merge energy efficiency, durability, and tenant comfort with cost-effective construction strategies, making the rentals both affordable and sustainable.Location: Currently scouting – I'm open to suggestions and insights on ideal locations supporting this vision.Strategic Planning:Efficient Design & Planning: I'm considering compact, multi-functional layouts to optimize space usage and incorporate cost-saving construction methods without compromising quality.Sustainability & Efficiency: The plan includes investing in top-notch insulation, air sealing, energy-efficient systems, and sustainable materials to reduce the building's carbon footprint and operational costs.Budget Management & Cost-Saving Initiatives: Careful budgeting and exploring value engineering options are crucial, alongside seeking out grants or incentives for energy-efficient building projects.Community & Sustainability Goals: To create shared amenities to foster a community feel and implement systems encouraging tenants to monitor and reduce their energy consumption.Seeking Community Insights on:Cost-Effective Building Strategies: How can I ensure the project remains within budget while achieving high sustainability and efficiency standards?

If you plan to have more than 5 tenants, you’re probably better off stepping up to a duplex, tri or quad.CRITICALLY IMPORTANT: The layout of the house.

Instead of a flipper, you will turn into a custom homebuilder ....because your end buyer will likely stop by the job site 1 to 2 times a week and like any consumer they will change their mind, or perhaps get unhappy or even become upset if finishes, layouts, etc. are not coming to fruition the way they envisioned it.

Among the available inventories in central Jersey, these two are fairly new in ages, good layout, spacious, in an affluent town where the potential rent can be very nice.

The 3 story ones are so impressively large, with amazing layouts, decks, garages, etc.

For example, I can layout these options to a prospective seller:  1) I can personally purchase the property from you for so much, 2) i can list it for you for so much. 

Prices fluctuate based on location, size, quality, layout, amenities, the quality of the neighbor's lawn, access to parking, noise levels, and 172 other factors.Narrow in on specific communities, then study the market by looking at other rentals advertised online or using computer algorithms like Zillow estimates or rentometer.

Try to find something that either has extra units (duplex, triplex, etc.) where the added income from renters can help you qualify for the higher purchase price while offsetting your carrying costs, or find a larger fixer where you can get in there, fix it up to add value while also having the space to rent parts of it out, or if the layout makes sense and your area allows for it, split it into two units.