In your case, you could "reward" the tenant by telling her you want the home on a one-year lease but will leave the rent at $2,450 which is a $3,000 discount for her.

How is the location of this property in the market compared to the competitors?

A Total  Gut Rehab is expensive compared to 2,3 years ago !

I was assuming Newark / NJ had a pretty good shot given its location and talent (NYC)  advantage compared to other locations.

View report*This link comes directly from our calculators, based on information input by the member who posted.Shouldn't we have a place to put the pro forma rent so we can compare the difference for the actual rent to the pro forma rent in the final analysis report?

How can you compare apples to apples that way?

So I worked with a realtor and they sent me the Comps (Comparative Market Analysis).

How would you know the demand of multiunit compared to single family by renters in an area?

If you think the overall mix of risk/reward for the IRA will produce better long term results that leaving all of the IRA money in the stock market, then take a closer look at the self-directed IRA options to facilitate such an investment.

How does the price per square foot look compared to the duplexes that you're using as comps?