I believe sellers may be able to sue for specific performance in NJ.

I am just saying targeted funds will perform better through this than whole market.

For reference, I will not be performing any labor myself, but rather oversee subs, pull permits, ensure material is ordered and delivered on time and things like that.

I thought of paying the fee after 2018's terrible stock market performance, but didn't and 2019 had great returns.  

We would be buying existing (performing and non-performing notes as well as creating notes using private financing. 

what kind of maintenance have the current owners performed?

Hi @Anna Ding most of the time a pre-approval or POF (proof of funds) is required as part of an offer to show the seller that you are serious and you have the means to perform.

Wanting to not hijack the other thread about RE agents - we are going to be looking at selling 2x houses, one of which is an under-performing $100-150/mo cash flow house that we think we have something like $50-85k equity, the other is a house that we think is worth $165-185k in a regular market that we own outright.We have been working with an agent for awhile, as investors. 

BPOs have become absolutely arduous to perform and pay pennies.

It's a useful rule of thumb for judging value at a very high level, but once you're in the weeds you need to look at the expected performance of the property vs. the cap rate.