Our opinion:  the weight/consideration that should be given to assessment is timing (i.e. when is the next assessment going to happen); any changes in assessment methods that a State/county is considering & exemptions that will not be applicable to an investor.  

To be brief, the two main methods that many investors in your price range make money are:1) Fix & Flip. 

And, with my financial picture what it is at the moment, the method for fixing my credit rating had to be low cost or free.Well, I found a way that is free.

In regards to your concerns, you should put together an MOU regarding the terms of your agreement with performance clauses protecting both parties, and eventually lead to a JV agreement.There are several other methods to protect yourself as well as the owner/seller, however, too lengthy to write about.Don't be too greedy, otherwise it will limit your relationships and longevity. 

They will not be in a closet but may be separated by a 4 feet wall on the side.The reason I am asking is that there are already all connections available if I keep the washer/dryer location same but then it is in the master bath.The alternate design is to move washer/dryer to a side, in a closet and be totally separated with master bath but then it will cost more as I will have to pay for extra plumbing/electrical and vent.any ideas?

This method or tool will allow us to place a resident in the property who for whatever reason can't qualify for traditional financing yet, but would like to enjoy ALL the Rights of Ownership yet avoid all the inherent dangers of Seller Financing Schemes such as Sub-to, CFD, AITD, Lease Purchase, Lease Options, etc.

What are some creative financing methods to buy this property?

I'm very handy, dont mind getting dirty and usually DIY most projects, excluding plumbing and electrical.I'd like to start in the Northern NJ area, but I am open to out of state deals as well. 

Most of the conventional methods of rental shopping yielded nothing in my price range.

Some people prefer to communicate in more passive methods so for that it could help, it would depend I guess on if your website is good or not to me.