If they're doing any additional work such as rebuilding a chimney it might be more.

I am trying to discover the real way to earn my family some additional income in real estate, either through flipping, or developing rental properties. 

It is a triplex, I ran the numbers through the BP calculator and they appear to work, however asking for additional advice never hurts. 

Additionally, we are focusing on single family homes in Bergen County, NJ 

4, Have you ever worked with turnkey providers who also throw in additional incentive by helping you acquire a rehab and they would manage the rehab and subsequently rental.

This project is essentially a complete gut that will include addition of roughly 700 SQF, new roof, siding, landscaping, privacy fence, hardwood flooring installation, interior re-design into an open concept floor plan, upgraded kitchen with granite counters, new cabinets, stainless steel appliances, etc.

Your best bet is to press the seller to provide the documents.

The exempted properties are up to 2 years with an additional 25% interest after the first year making the interest rate 50%. 

Our state lobbyist out of Olympia spoke for a full hour on the socialistic bills and ideas coming out of the city council in Seattle in the Capitol.They are contemplating or have already enacted rules regarding no rent raises when service calls are unresolved, must show cause to terminate a m-m agreement, rent control, 5% capital gains taxes on RE sales (in addition to the 1.7% excise tax), pre-'78 lead inspections, periodic unit inspections, etc.  

I've got the architect's drawings ready to go, we're about to pull permits, but I know they don't have the cash to get past tearing down the illegal 2nd story addition and closing up the second floor (ext framing, siding, roofing).