Hi All,Trying to understand if anyone else is finding any residential  deals in Nova area and at what cap rates?

(and I have full time job so time is limited)Here’s a breakdown of my investment plan–I would greatly appreciate any guidance and recommendations on making this (or some version of this) happen.PropertyLocationAttributesB-level areas (A-D scale)Safe enough for my girlfriend to feel generally safe walking alone in the eveningWalkable neighborhood / close to transit (car ownership not necessary to live there)Area(s) of interest (not set in stone)Jersey City areaConditionB or C-level (A-D scale)Semi-distressed with potential for minor rehab upgrades ($35k max)DealbreakersFoundational issues / big required rehab due to FHA 203(k) max for streamlined versionSize2-4 units (higher the better)2-4br per unit preferredMax Budget (FHA loan limits)NYCSingle-Family Home: Up to $1,089,300 + 3.5%Duplex: Up to $1,394,775 + 3.5%Triplex: Up to $1,685,850 + 3.5%Quadplex: Up to $2,095,200 + 3.5%Hudson County, NJSingle-Family Home: Up to $1,149,825 + 3.5%Duplex: Up to $1,472,250 + 3.5%Triplex: Up to $1,779,525 + 3.5%Quadplex: Up to $2,211,600 + 3.5%TimelineTitle in-hand latest: Jan-Feb 2025Can potentially buy earlier if I sublet my current apartment in NYC as needed (lease expires Mar 1, 2023)Rehab: 30-45 days max of minor rehab/renoMove-in: on or before Mar 1, 2025 (hard deadline)FinancingLoan type: FHA or FHA Streamlined 203(k) for rehab <=$35kPossible conventional loan if I seek investment from family/friendsApproval statusGoal is to get pre-approved now in advance for credibilityMy statsEmployment: Full-time at large bankIncome: low-mid 6 figuresAssets: low-mid 6 figures (including 401(k))Credit score: 800DTI: 2.5% (student loan)Thank you in advance for your support.

.- https://www.realtor.com/realestateandhomes-detail/231-Burke-...PA:- https://www.realtor.com/realestateandhomes-detail/Purple-Mar...- https://www.realtor.com/realestateandhomes-detail/14-Pocono-...- https://www.realtor.com/realestateandhomes-detail/Billy-Ln-L...VA:- https://www.realtor.com/realestateandhomes-detail/Dillards-H...- https://www.realtor.com/realestateandhomes-detail/Egypt-Bend...- https://www.realtor.com/realestateandhomes-detail/Riverbend-...The areas where the tool "looks" were pre-screened.

Aside from COVID hurting our bookings in Mar through early June, business really picked back up this summer.

The water incident happened in July 2023 and wanted compensation for damaged shoes and clothes but no mention of any further water leak nor any mold, the first mention of mold was Mar 7th of this month and there is mold so I need to remediate since insurance i doubt would cover and the tenant doesn't have the means, lessons learned, will update my lease and make sure they all have renters insurance.

We are doing much better than covering costs, etc. but this was a 1031 exchange and I had one simple goal (among others) to beat our previous numbers in the NoVA/DC area.

Welcome to BP, Jeff - Very familiar with NOVA as I went to VT. 

They don't land here from Mars, they are coming from the same pool of people that make up the rest of the population, including (surprise, surprise!)

Sequence of follow ups on concrete blocks delivery since Jan 2023.23rd Jan: First follow up response - concrete blocks will take time since it's the slowest part. 24th Feb: Second follow up response - still waiting on block delivery schedule from the vendor.21st Mar: Third follow up response - vendor said they will have a batch of deliveries going out next week. 28th Mar: Fourth follow up - haven't heard back.6th Apr: Fifth follow up - haven't heard back.

@Golan CorshidiI do not invest solely based on appreciation I invest based on area which if it’s a good area then yes it should have appreciationTwo assets I have at first had little to no cash flow in them and ten years later the cash flow is there as well as the appreciation because not only were values increasing but so were rents in that area - and this was pre covid This answer also is based on your time frame or horizon - I invest long term and find again investing in good areas is a great way to build wealthI would rather have 1 $500,000 asset in northern Virginia than 10 50,000 assets in Gary IndianaOn paper will Gary have a lot more cash flow - yes - but in ten years who has a higher net worth - it will be that one property in NOVA