Jersey City is hot right now but like I tell my clients the majority of the time I can find them deals that make more sense in Essex County but that depends on the client and what their needs are along with their comfort level. 

Its not near any major cities where someone might look at it as a long play for path of progress.Another option might be to see if a solar farm or wind farm company might be interested once its clear cut. 

The Economic Development there is focused on building competitive regional talent, diversifying the regional economy, transforming Montgomery's image and building diverse community capacity.Major economic drivers to the area include Hyundai manufacturing, Maxwell & Gunter Air Force Base, major Amazon distribution, Alabama State Capitol, Alfa Insurance, Kinpak, H2 Pharma, Dollar General transport/logistics, Dow Chemical, and Conner Industries to name a few. 

These things need so much power that unless the site has access to major grid access point you're wasting your time. 

During your initial walkthrough, inspect the property for any major issues such as structural damage, roofing problems, plumbing, and electrical concerns, while documenting all cosmetic and functional issues with detailed photos and notes.Once you confirm the property’s potential, finalize your ARV and calculate the repair costs using either a reliable estimator or insights from contractors.

The fact that there was a major expense happens, but you budget for that.

go to Home Depot, talk to some general contractors, join your local Facebook and meetup groups and start getting good ranges for every major item.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

If you come to me and say you super handy ready to take on a major renovation my answer will be different compared to if you come to me saying you need turnkey and 30 minute commute to NYC.  

For example, in C class neighborhoods, you might see higher tenant turnover and more wear and tear, which can increase costs over time.It’s also worth factoring in reserves for capital expenditures (CapEx), even if major items like roofs and HVAC systems are new.