This phase of learning and practicing is invaluable.Broadly speaking, I think the rent numbers look pretty good.

Give a copy to your tenant after signing and keep the original yourself.It may seem unnecessary, but this simple practice will save a lot of you from a lot of heartache and lost income. 

@Ararat Vardanyan, I did some digging and it looks like the book you need is "Principles & Practices of New Jersey Real Estate" $45 through the link below.http://www.kovatsschool.com/ProductInfo.aspx?

Prices go up but rates drop and lending practices loosen.

I love that you encourage learning the market before jumping out there as the "local expert", but also beginning to build relationships simultaneously.

They don’t understand the maintenance and repairs that are just standard for a homeowner and don’t have practical expectations.

I want to practice on the calcs, but realize that there are sections that I do not know how to find or estimate.

I think they won't sell the mortgage to another company.I'm working with a local outfit on another pre-approval simultaneously, to hedge my bets.

So, they would be practicing real estate without a license. 

Its been great, lots of practice dealing with tenants, maintenance calls, etc.