Quote from @Jackson Ebersole: Hi Piper,It's always smart to flip properties in-state, and I'd like to share some updated insights on why this approach is beneficial, especially in the New Jersey area.Lenders typically feel more comfortable with in-state flips because:You can manage the rehab more easilyYou have better knowledge of local real estate trends and valuesYou can respond quickly to issues or make decisions fasterThere's a lower risk of fraud or being taken advantage of by distant partnersI can help you with recommendations for the New Jersey market:North Bergen: Continues to show strong potential, with average profits now around $150,000 per flip and a gross ROI of 85%.Willingboro: While specific flip numbers aren't available, the market remains active with a gross ROI now averaging around 130%.Gloucester City: Still a top performer, with gross ROI hovering around 180-190%, though still on smaller profit margins.Irvington: Home values have continued to rise, with a 20% increase over the past two years.East Orange: Has seen steady growth, with home values up by about 16% since 2022.Paterson: Experienced a 14% increase in home values over the last two years.Additionally, Jersey City and Newark have emerged as promising markets for flips, with strong appreciation rates and growing demand.

Redfin says its value could be 150-160k, but I doubt that’s accurate, unless the market heats up with lower interest rates.What factors should I consider?

In many markets for a lot of people that’s only like two 4 unit buildings.

I am confident in handling the construction as I have experienceWhat really matters to me is that are there margins in this market to make money from scratch up?

Safe option probably depends on your experience and motivation and maybe the market where you buy. 

Which I think also means I can sell the house at market rate once the foreclosure process clears?

Have you looked into Ohio markets such as Columbus?

My company does over 30 DSCR loan transactions a month, so I definitely have a lot of experience with that program.Mid term rentals can be tough, but they can be done.LTR (long term rent) is easier for DSCR, that would be a traditional 1 year lease tenant.I'm very familiar with the OH state market, if you have properties in mind you want to purchase, they most likely will qualify for LTR so you can do a DSCR with 20% down. 

When tenants move out, do you take your property to market rent?  

I use a google voice number for advertising/marketing properties and first name only for advertising on the internet but my full name is on my lease and i give all of my tenants my personal cell phone number.