It won't work becuase buyers will have much more inventory to choose from....and banks will slowly creep their rates up from these historic lows so there will actually be possibly less buyers and much more supply.

It's not just you, inventory is running low.

Until there is more inventory than there is demand we will continue to be in a sellers market where we are and have been for the previous 4-5 years.

Banks also hold on to foreclosures and slowly release their inventories to avoid saturating the market and driving prices down.

As expected, inventory is low but I picked the ones with potential to utilize upside.

Luckily because the HOA is good and unit is relatively new I have had to spend a total of 25 dollars over the two years the unit has been occupied on repairs, 0 vacancy, two years of solid rent, the appliances in the unit are modern and the hot water was replaced by me the year prior to renting it out, in the next 5 years I assume I will need to replace the AC unit at a minimum possibly furnace too.I have been quoted an extremely low fee for refinancing as we send a lot of business to the mortgage broker:15yrs with a 2.25 and a lender credit for bank fees of 1,42030yrs 2.75 and a lender credit for bank fees of 1,420I could refi as a 30 and actually cashflow an amount that amounts to something or I could put the home on the market, take advantage of the current lack of inventory and high prices. 

Glen Ridge will definitely be on the pricer side and there is not much multi family inventory in Glen Ridge.

I'm trying not to throw away those leads, since at least they do seem like real sellers, and MLS inventory is so low, but it's obviously harder to make money off of those, and it's more of a marketing effort since we have to go to agents to see if they have regular homebuyers, and/or to investors who just want some passive income from a turn-key home, which I don't have a ton of those types of buyers, yet.

With crazy low interest rates + ridiculously low inventory in the area (1.3 months of supply), sellers are basically getting full to above ask price across the board.  

The 92121 market is competitive with low inventory currently. 92122 has considerably more options but is also a bit farther from your target area.