Gave me practical experience finding deals (and the tools & techniques involved), working with realtors, lawyers and banks, appraisals, inspections, insurance, property taxes, utilities, closings, HUD statements, etc.Owning a home gave me more practical experience in basic to moderate home repair, dealing with contractors for more complicated issues, capital improvements, insurance claims, "neighbor relations", and many more important aspects involved with owning property.But in addition to buying and owning my own home, I'll say what was equally important to giving me confidence to get started was having a few friends who were already doing what I wanted to do. 

Sewer, gas, electric, water?

What we have done is get a mortgage based on purchase amount plus contractor repair cost estimates.

Anyone know of any good contractors in northern New Jersey.

I was wondering if any investors in the DC area had a good list of contractors that they trust for various things from HVAC to general handyman fixes.Specifically I am needing to install a dryer vent and water line for a washer/dryer.

They call me up when they have a problem, and I come and fix their problem or send a contractor.

if they are a grower don't forget to make sure they pay for electric. also make sure the security of the building is tip top. 

Of course it will be cheaper, but don't forget, sometimes you get what you pay for.I'm not going to advise you to find a licensed, bonded contractor to do the kind of work a cave-man can do.

The only drawbacks I can think of are being a little further out, so less options as far as contractors and vendors, and of course fewer buyers and less activity.  

It's led me to discover home monitoring systems like Eyedro (for electricity) and Flo (for water), where apparently you can track usage and figure out the consumption for a separate unit like a mother-in-law suite.