Lastly, any new home builders and/or modular home builders in NJ who would be interested in a project like this?    

Project management, SCRUM, additional users would be amazing but a secondary requirement. 

I would certainly rely on a real estate agent to pull true comparable rentals in the area (as opposed to any kind of "Zestimate") to know what your projected rents might be.

-Projected monthly rent = $1,300-I calculated 5% for cap ex, property maintenance, vacancy, and $95 a month for property management.

I only have to do another 640 million in annual sales here locally to over take them :)  Anyway I am closing on a 90 lot project beginning of December and if we can keep the velocity going that should move me up into the top 20.. 

Its always easier to do a project close to home.

There are some areas that I don't like driving through during the day and I've spent a lot of time working in the projects in other cities. 

The threshold for STR with FDOR (known by most as the sales and use tax enforcers) is 6 months so I keep a clause in my leases that if they move out before occupying the property for at least six months they're also on the hook for paying sales tax on their rent (6.5%  in Orange Co. but varies from 6% to 7% depending on local voters funding their favorite projects with the amount in excess of 6%). 

The existing quad is listed for sale at $1.1M and a 5.3% CAP.Commercial multifamily in the area sells at a CAP rate of roughly 4.5%.The existing property is zoned to allow for 6 units and has available land to build an addition duplex for ~$150 per sqft.Assume 1000 sqft duplex at $150,000 and we’ll build that into the loan.After expenses, the additional units will each increase the annual NOI by $14,400 = (Gross rent – operating expenses = $600x12x2).Purchase Price  $1.1MMConstruction:  $150KLoan amount: $1MMTotal for project:  $1.25MM20% down: $250KPre-construction NOI:   $58,300Post construction NOI:  $72,700What is the estimated property value after construction?

I brought my home for 299k and its went up 6% in a year, projected to reach 346k because of the growth in the area.