I came across this article and it seems like there is a push for this and to make basement/cellar apartments legal but still hasn't happened.

Seems like they are running a Pawn Shop, homeowners in Austin/Miami/Tampa etc who need cash bad sell a "HomeShare", percentage of their equity in their home for a discount, with a term of 10 yrs, if the homes go up in value as they have since 2011/2012 then NADA gets the original equity already at a premium price plus any appreciation for the total percentage they bought from the homeowner, but since Austin now down 20% in last 12 months and other hot home markets may also continue to fall, and NADA does not engage in price discovery (ie shopping for best value) as they want to obtain a "Market Value - ETF like" of the cities they invest in.

I don't want to buy existing the number don't seem good to cash flow. 

Ive never hired legal help, would it better to find local or can I look in other parts of nj also since it seems most everything can be done online?

It seemed like the smart thing to do since it is in an up and coming area.

The CAP rates aren't great, the vacancy rates are high, majority of multi-family locations are in areas with unreliable tenants.Overall, it just seems like it's difficult to achieve reliable passive income here. 

To me it seemed like a very simple way to explaining how to become successful in real estate. 

So $3.5K doesn't seem that bad. 

I've got an agent who sends me deals, some of which are off-market, contractors who can do the work, a hard-money lender who seems to offer good terms, and a property management team I trust.

They both do a good job at what I use them for, but don't seem to be well equipped enough to handle both sides of the coin.