I understand that the 50% is very general and of course it will vary by the submarket and the type of property, condition, age, etc.

Hi Frank, i don't know about all the other stuff mentioned before but i do know as real estate professionals it would be to all of our best interests to vote "yes" on amendment 2 in this up in coming vote.Best regards John c.

I also had that one broker mention a renovation loan, something I am not familiar with at all, but maybe its close to the same as a construction loan for a new house which I did do when we built our primary residence.

Probably not the one mentioned earlier but I really liked it for this topic of self storage.Kind Regards,Rui

Speak with a CPA before attempting this, because the IRS specifically mentions multiple passive investment properties are required to qualify for this deduction.Best of luck, and I hope you find something here helpful!

Someone mentioned to me that it could be presented to bank for an amount and ask for a credit back for repairs.

Not to mention that he thinks he can get away with this because you are a young woman.

Where this should be mentioned on a NJ website?

Without knowing the many variables needed to know if this is a good deal, I can tell you right away buying at 80%+ ARV is a bad idea, especially with the issues you mentioned.

Pro Forma was mentioned in a Rich Dad Advisors book called ABCs of Real Estate Investing by Ken McElroy, it is found in the sales brochures, which now made sense that you mentioned that it is provided by the seller or the seller's agent.