But state laws govern insurance, and agents knowledgeable of local conditions is important.I worked in an small insurance company once, with a brokerage in the same office.

For a new tenant you want to rent to, it requires you to complete paperwork and have tenant sign it and then submit to housing office.

You can buy Quit Claim paperwork from an office store and fill it out yourself if you feel comfortable getting all the information correct like lot identifiers and such.

But what about a loan officer?

And despite what some brokers will allow in their specific office, in Kansas and Missouri real estate agents and brokers can wholesale if they want to as long as they follow the law and their broker will allow it.

Worse case, if plan for the upside portion aren't approved, I would still see $400k once all is said and done.The only thing I am a little concerned about is the over-all political and economical climate of things in New Jersey... although this particular municipality has weathered the financial turmoil of the past exceptionally well due to proximity to NYC, etc.Is anyone on this site still playing in the New Jersey speculative market? 

This is more common among family offices and private equity firms. 

I would get a conventional mortgage and put 5% down, You'll still have PMI as a monthly cost but when you reach 20% equity you can usually refi or appraise out of it (ask a loan officer). bottom line is at 22 years old you have the capital to live for free essentially and benefit from home ownership. you certainly have more buying power than $100-$200k as previously stated. $400,000 list price would be $20k down pmt and you could have your closing costs covered using seller concessions.

Talk to a loan officer first to see if you can get approved for a loan of $450K.

Ryan, you can find the right agent, lender and GC by networking at your local Real Estate Investors Association and ask people there specially the officers of the REIA.