We will both be on title and are planning to split costs and ownership evenly. 

You essentially would be digging deep into your own pocket when these costs arise.

do not forget - can I borrow for the closing costs as well?

Ali,When planning to buy in NJ the biggest thing I would tell you is to plan/research for the closing costs.

There may be costs associated.

I figured the only holding costs will be the utilities. 

This strategy requires knowledge of local markets, renovation costs, and the ability to manage or oversee renovations.I am a loan officer and I could advise you on how to tap into that equity and put that money to work.

It helps accurately estimate the costs of purchasing, renovating, and selling a property, ensuring a clear understanding of potential returns.

Managers cost so much and make repairs cost even more, I do not see their value until you have 50+ units and no time. 

renter sucked...didnt pay.... cost me a lot of money blah blah blah.