Mark F has attached the specific NJ instruction on rent increases to a post above, and he is right on the money - DO NOT be guided by out of state advice advocating a huge raise to market rents in this case. 

Any advices and instructions to how make this work will be greatly appreciated.Hey there Michael,Congrats on getting your approval letter for a 3% down conventional loan!

So, I've decided to do that work myself but after the traps are laid and when the mice are caught, should the tenants be responsible for throwing them away or should I instruct tenants to leave them in a dedicated area for me to throw away?

Make sure guests get a well written checking email/sms with all needed info, checking during their stay, and checkout instructions.

I have found that this and other posts like it apparently revolve around what CNN / MSNBC keep instructing people to feel, think, believe.

They lend in Arizona, Colorado, Oregon and North Carolina.Their website features actual deal breakdowns, which are always instructive: https://www.belending.com/resi...In addition, they meet with investors to do deal consultations.

Read and familiarize yourself with these:Residential Rental PropertyBusiness ExpensesBusiness Use of your HomeTravel, Gift, and Car ExpensesSchedule E InstructionsPrimarily focus on "Residential Rental Property", "Business Expenses" and "Schedule E Instructions".

There are potential renters from February through October (spring training through instructional league).

My dad did very well at one point when I was still a youngster, and I have fond memories at eight of "helping" him renovate a property by gleefully taking his instructions to heart and using a hammer to take down old plaster and drywall from an investment property in the Adams Morgan neighborhood of Washington, D.C. in the late 1970s when it was a very distressed neighborhood and not the more upscale and renowned neighborhood it is today.  

I am also preparing detailed instructions for setting up an LLC in each state.