I would recommend shopping this because at 66% LTV you should be able to get a rate in the low 7s assuming you have a good FICO score.

The only time I recommend an investor take a negative cashflow deal is if they have a high W-2 job and need to offset taxes, and /or they can afford to wait for a house to appreciate.

I'd recommend you get a qualified electrician out to take a look at it.  

Also what do people recommend for remodeling?

Since you are also from NJ, do you recommend any local meet-up groups that i should attend?

I recommend the following:1.

If you have none, there's a very good chance the landlord will win.I recommend taking the first step.

Are there websites you recommend for market analysis? 

Are there particular parts of the neighborhood that are recommended?

Recommend requesting the seller’s existing ALTA Survey, building plans & floor plans, site map, seller’s prior Phase 1 & environmental reports (easy for them to ask lender for copy), full rent roll detail (including renovated/classic unit indications by unit, sqfts, building #’s, full detail), aged receivables report (will allow you to identify hidden delinquency / bad debt yet to be reflected in T12’s), general ledgers / capex ledgers back at least 3 years to ID major capital projects or damage that wasn’t disclosed initially.