Typically it’s done with cash or equivalent.

I typically will bid on my properties in foreclosure a percentage of FMV instead of total debt where value may be in question. 90% of FMV would be typical for me when considering i've got commissions, taxes, maintenance, etc., so, i'll bid 90% to try to entice 3rd party bidders so i don't have to take it into REO inventory.

75% is more typical.  80% for some SFR investment properties.You did not include Closing costs for the Purchase.Double check your numbers before you move forward.Good luck.

This is way out of my element, as I am typically a value add investor. 

Not your typical interview in the least.

I have a full time job getting off around 5pm typically and have free time after that and most weekends to help with anything.

Though I have not purchased my own real estate in NJ so I might be unqualified to speak about it; I would say attend Brandon Turner's webinar which he typically holds every week on this very topic! 

Typically appraisers will appraise at or just above contract price when it is worth more.

Typically if you have a good deal, it's easy to find an end cash buyer.

I typically start a new lease as a 12-month lease and then it converts to month-to-month after that.