To gain investor confidence, ensure the investment property numbers are real, use the most common contract forms in your state (versus a 2 or 3-page) internet/guru contract form) with appropriate addenda, or an attorney-drafted form and attorney-drafted assignment agreement.

You're in the business of flipping houses, so any self-employment taxes on the ordinary income most likely aren't being calculated in QB. 

I'm not sure if this is a local thing or if it's common in all markets.

Funny how things seem like common sense, only after they happened, isnt it?

@Jason Tucker  you need to add in your utilities, common area cleaning, and turnover costs to determine if it makes sense. 

They can also look into local workforce development programs that might help them find new employment quickly.

Ideally, I'd like to find a balance between affordability and potential for appreciation.Also, are there any common pitfalls or things to watch out for when buying a multi-family property in Jersey City?

Multifamily is the most common one, but some groups also do self-storage facilities, student housing, commercial properties, and others.3. 

It is a path not without risk, but it is a common path in this market.Wishing everyone a successful 2025.

I recommend educating yourself as best you can to avoid some common mistakes.