Nutley has a lot of industrial area but convenient to RT 3 and RT21 ( direct routes to New York City and Newark ) so is a good rental area. i Believe most of the towns you listed would be good rental areas, just check crime maps and personally check the area to get a feel for them your self.

Are there any recommended cities/areas with good cash flow, that are relatively affordable, i.e 50-75k/unit?

The city put out dumpsters and the first thing was to cut the drywall above the wet line (in my case 4 ft) and break out the wet drywall and toss it

Check out rental arbitrage (link is just interesting example)http://blog.airdna.co/most-profitable-airbnb-citie...

I have done thousands of deals during my 30 years in real estate (in New York state as well) and I know very successful wholesalers, who live in Manhattan and wholesale virtually (nationwide.)Good luck!

There is NO risk of gas leaks and... city inspectors aren't grumpy when a tenant piles cloths in front of the "furnace" (because there is no open flame).

I have two big concerns about the city regulations: 1. 90-rental nights per license year... how is that actually regulated?

There are several investors in OKC working on projects in Shawnee as well as new developments in the city.

I work for a bank in New York City.

I'm focusing on Chicago area commercial estate because I'm familiar with the city.