Do any one know a good real-estate CPA close to Montclair NJ

Basically you are spending a large sum of upfront money and hoping you get an roi on that, my understanding though I really don’t do that type of marketing is it was a good payoff if less than you would think based on total sales volume in the before times, but again as conversion rates fall it’s become harder to justify.

The idea that you can build wealth without putting any money into it is a recipe for disaster and the sales pitch of gurus trying to steal your money.

If the Due on Sale is called and there is no equity, the buyer has to bring in thousands of dollars to close when they sell.

Financially this deal makes sense; however, I am concerned with the safety aspect… I must live there for a year since I am looking for an FHA loan.There are areas close by that i know can have criminal activity but I am uncertain about this specific area (1-2 mile radius).

If that zero's it out, or close to (maybe you're running a small negative), it should be alright, unless your DTI is extremely tight.

If you want to defer all tax on the 1031 you must purchase at least as much as your net sale. 

We also like to sit down with the current manager and go through everything related to how they are running the park (collecting rent, problem tenants, sales of homes, marketing efforts, recurring maintenance items, problem areas in the park infrastructure, etc)Compliance - this includes everything related to city, county, and state compliance to continue to run the property as a park.

A trend we'll keep an eye out for is the gap between median asking prices and median sale prices.

This allows you to own/operate the multifamily (assuming you don't want to own the commercial) while potentially creating some value in the sale.