From a real estate perspective, Web3 would hypothetically push homebuying to emerging markets because of remote work.

However they have forwarded us a letter from Community Action Covid -19 emergency rental service which prohibits us from evicting them.

Plan to keep this a paid off property as "piggy bank" in case a great opportunity or emergency comes up.

Plan to keep this a paid off property as "piggy bank" in case a great opportunity or emergency comes up.

Things will break and leak, you just have to be mentally prepared for it and be able to recognize what is an emergency and what is not and have people lined up that can help you with the process. 

Any emerging markets in NJ that seem to be going up in value, new construction, city development, low crime rate, transportation & job growth?

In theory you could go into their unit and take/damage their stuff, but legally you can't go into their unit whenever you like (you've sold the right of entry/possession in exchange for rent) and in most states you have to provide advance notice except for a bona fide emergency.

With that said, I think I would need to create some kind of emergency contract in case we split up.

. :) Buy something you can afford, add value in case of a market correction, save 6 to 12 months of emergency funds and you will be ok! 

This expanded mandate would, for example, make the current Emergency Rental Assistance Program, which was intentionally designed as a voluntary program, MANDATORY for landlords to participate in.