Francesco is correct.I invested in this area 2013 - 2016 and at this point the window has closed for finding MLS deals "where the numbers work".I've started to look outside Hudson County.Union City has MLS properties from time to time where the numbers show some cash flow, but UC is a speculative play because the rent control board has frozen rent increases (my understanding-you confirm this).

Purchase price 147KListed for 299K, sold for 285 (went under contract for 290 but dropped it another 5K at buyer request after the appraisal just to get out of the deal)Home Depot credit card: 10K (appliances, fixtures and other things we picked out and purchased ourselves rather than having GC use typical builder grade stuff, also husband did some of the work himself so bought his own materials)Brought 40K of our own cash to the closing table, loan total when paid back was 185 (original loan 175 plus 10K in accrued interest, 12 month balloon loan so we did not have to make payments during the rehab, which helped a lot with cash flow, also loan had rehab costs folded in so for the most part we paid our guys out of the loan and not our own pockets)So (numbers are round): 285 sale price - 185 (loan payback) - 40 (cash we brought to closing) - 10 (Home Depot card) - 10 (closing costs) = 40K profitWork done: insulation and vinyl siding (this ate 18K of rehab budget but was unavoidable as cedar shakes were disintegrating), converted to natural gas heat (ducts already in place, changed out electric hot air blower to gas one and gas company ran the gas from the street for free), replaced AC compressor, new water heater, two new bathrooms, replacement windows, new appliances but left the wood cabinets b/c they were in perfect condition and I could not justify painting/replacing them, new kitchen backsplash, removed wall between kitchen and dining room, wood laminate flooring throughout except for new carpet in downstairs den, painted the deck/railings, new garage doors, one new slider, all solid wood interior panel doors, of course fresh paint and new light fixtures throughout.dining roomThere was moisture damage downstairs from bank not winterizing and pipes bursting...thanks, bank.Hauled out enormous old woodstove and broke up ugly old hearth and left good flue for someone to add new pellet or woodstove to if they want to, we figured not everyone wants a woodstove and this way the buyer can decide to add one back if desiredBathroom off downstairs den, chose a walk in shower for variety, hosing off dog or muddy children, disabled access, etc. 

The inspector found a couple of cracked window panes.  

Expected renovations include: new windows, new flooring (carpet throughout mostly but a few rooms have hard wood), new paint throughout, landscaping/small patio work in back and stone work along steps and walk way, new light fixtures and other cosmetic items, possibly some repair to the slate roof and new kitchen (new cabinets, flooring and appliances).    

I had a crew go in and deep clean every piece of concrete in the basement with bleach and I sprayed every square inch of the wood (floor joists, window wells, etc...) that I could find with KILLZ before painting.

Tim Gordon   We can attest to the scrap metal guys being crazy here too.....two weeks ago, we had replaced an old window in our carriage house apartment and we left it at the curb on regular garbage night.  

HOWEVER some important pics are missing which are pics I always include when sending pics to rehabbed (when wholesaling) or when my business partner and I analyze a potential rehab: roof, electric panel box and switches, wall outlets, siding, windows backyard, front yard/walkway/steps.

I can take this list and create surrounding listed/sold but theres likely too few on the street, so best to just keep running through itEXPIREDS: Great listNOD: Much smaller nowadays, plus theres only a short window of time apparently.FSBO: Great list!

Just purchased a 3 bedroom with a rather large basement. 3 bedroom would catch about 1100 a month, however if I added a 4th bedroom in the basement, I'll get @ 1300 a month in rent.The basement takes on water, needs to be partially finished, (walls/floor/outlets/lights/ etc) plus an egress window needs to be installed.Rough numbers when all is said and done will be 9-10k, with the waterproofing eating up most of that estimate.

The main things they look for:- Windows - double pane or better (this includes basement windows)- Attic insulation- Doors - checking for storm doors or weatherstripping.