The advice above is fairly general regarding New Jersey law. 

Hello, I'm fairly new at being a landlord and have a question about turnover cost.

A valuation using market rents should put it around $300k+ as well, but this is in a city where the RVR is fairly high. 

I have a fairly decent income from my job and want to spend the next 10 years building a real estate portfolio.

You would have to research the changes related to this but from my perspective IB had a nationally recognized event that seems to now be a more local recognized event and not even the most known in San Diego.IB has a fair amount of military occupancy due to North Island. 

What are some of the strategies you use in order to locate distressed properties and how have you faired using these strategies?

look up realty experts in Fremont and ask for Sean Beattie he’s an honest, knowledgeable, and fair guy.

If the lender doesn't allow this, then put it in both your names.Price both units at fair market value.

@Jason DiClemente is a 700+ credit score required for hard money lending or just the 10% and 3-6 months “skin in the game”?

Real estate agents, property managers, attorneys, etc don't have the skin in the game like an owner does.