I've already visited real estate investor workshops in my local area and meet some people who has been encouraging me in the right direction.

I would encourage you to network- here on BP and look into local REIAs in your area as well.  

@John Horner @Sharon S.Thanks for the encouragement!

Since you are asking the most basic purchase questions I would encourage you to double and triple verify that the property will indeed be worth much greater in arv than he $260,000 that you anticipate to invest, otherwise you just bought yourself a new personal residence or an accidental rental. 

I really appreciate your feedback and encouragement....I also drive for dollars and know that is a super way to get started and find deals.  

With regards to other areas in NJ, I would encourage you to look at B or even C class neighborhoods.

State legislatures designed the LLCs encourage people to start small businesses without risking a personal assets. 

I would encourage you to reach out to a mortgage lender and discuss your options through either a cash out refinance or a home equity line of credit (heloc).

I'd encourage you to be as active in the RE program as possible.

Hi Sean, thank you for welcoming me to the forums and your words of encouragement!