Additionally, getting in with a local broker helps as they can shop around for you.Umbrella insurance is pretty cheap to add on in my experience, so I think it’s worth it.

Certainly open to other ideas and strategies, it would just require additional diligence from my end given my level of comfort and expertise would be lacking in other areas.

Wont LLC comes with additional annual tax filling complexity ? 

Additionally, determine the anticipated after-repair value (ARV) of the property.

In the past I have always done so and I have been discriminated against and not been allowed to rent even with perfect rent history and great credit every single time expect once.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

While I have solid income and good credit, I'm uncertain if I'm too new to take advantage of this opportunity.I'd greatly appreciate advice from experienced investors on how to approach this.

Screening college kids is tricky, they don't have any credit history, and I'm not going to call their RA (if they're straight out of the dorms or their parents house).

Additionally, you could open an account in person with a national chain like Wells Fargo or Chase, since they have a presence in NJ. 

I would love to hear feedback from others that may have been in this situation or can just offer additional advice.Thank you so much!