If using a lender this is a non issue.

Not just using a filter and add people, just because they have 2 houses, are over 40, and they have a dog.

No Aaron, it's a main floor roughly 1500 square feet that's been divided using a hallway with doors on each side totaling 6 separate offices. 

Are you using a conventional(Fannie Mae/Freddie Mac) mortgage to acquire the home?

My agent sent over an addendum to extend the closing since I'm using a rehab loan and I also had added that all hazardous materials must be removed prior to closing.

The way the water company and the law are written it puts landlords at a serious disadvantage when it comes to getting the tenants to pay for water usage, especially at a multi unit home.Also worth noting that using a 3rd party sub-metering company to solve the problem is probably not going to be a cheap solution either.

I was actually thinking of using a HELOC to buy my first rental but I was talking to a family member about it who very adamantly said it was a bad idea and unfortunately my husband jumped on that bandwagon so apparently that's off the table for now but I didn't really see a downside for it as long as we could afford vacant months here or there (the properties I'm looking at would only have mortgages of $300-$400 a month which we could swing)

The cabin would be utilized by my family several times (6-10) a year, but not enough for me to justify the costs.I have contemplated on using a property management company to do short term rentals to offset the costs.

Returns in NJ Newark can reach 12 - 18% cash on cash return assuming you are using a normal conventional loan putting 25% down payment and including approx 7-10k of closing costs.

As an agent I would suggest you contact owners of expired listings, those listing that have been on MLS for a long period of time - BUT DON'T talk to them about listing their properties (this may be difficult as an agent because that is what agent's are trained to do) start to think and act as a counselor, help the seller solve their problem and if you do you'll put together many transactions.Also FORGET ABOUT - the conventional way of buying real estate (20% down, using a 20-30 page contract, applying for financing and exposing yourself to intimation by lenders, underwriters and others who do not care about your financial goals and would like to see you fail in your quest for wealth) - study and understand  how to CONTROL and ROLL real estate - C&R is the highest real estate leverage ever created - C&R is about selling (assigning) real estate you don't own. it all boils down to creating a "skinny contract" with only one contingency and offering that property (contract) up for assignment using the public auction method of marketing.You can do it - flush your mind of the conventional ways of doing the real estate business and start to turn over rocks to find a sellers with a need - help them and your skills will help you make some serious money.Oh!