If you rent the 2/1 for $2K, your taxes will eat up more than 3 months in rent each and every year.

Oddball properties will eat your lunch.

Pretty nasty situation.On the other side, not an issue here, but buyers have taken possession without rents being stated and they stayed long enough to eat up the down payment/ penalties.

Nah... dirt is too expensive in NJ... and taxes will eat you alive...

Or do you instead knowingly over-collateralize the assets with a REIT, take new securitized debt as profit, and sell the corresponding rental yield payment overages to the pension funds and municipalities of the world willing to eat your "sexy" 6% dividend?

So, total costs are likely $1000-2000...again, unless there is already significant damage to the structure.I would recommend getting a termite inspection, getting an estimate on repairs and an estimate on treatment/bond, and then either eat the cost or ask for a reduction from the bank.

Being that the tenant is on a 3 year lease purchase agreement, I might eat the costs this year and cancel with the property management company.

Another factor is all the apartment buildings for sale.Maybe you could land a partner and purchase all buildings for a discount.You could then re-purpose the land and possibly sell to a developer.New carpet and tile means squat.Carpet is cheap and so is tile.The roof,kind of pipe running to the main at the street,age of kitchen,bath,roof,mechanicals,water not separately metered,etc.Those are the ones that can eat you alive."

We have mine , hers, and ours kids.. and managed to get all 3 together yesterday and go to my parents' house, and out to eat with Dad.

I'm an amateur bodybuilder so I cook and eat between 6-10 meals/day depending on what my goals are so I spend a lot of time in the kitchen, usually I cook once or twice/day, but there have been times where I cooked more.