This leads to home prices increasing at a fast pace so you're definitely on the right track of which markets to invest in.

@Muhammad Kashif Flipping a property in 6–9 months results in short-term capital gains, taxed as ordinary income (up to 37% federally, plus NJ state taxes up to 10.75%).

Most agents paying for leads are inexperienced, which is why they need to pay for leads.Look for an agent with a minimum of 15 years of active experience.

Since it was my first duplex, I thought having one short term and one long term rental would be good.

I was just on their website looking at the permit process:CityofSac-STR PermitLooks like 90 days max until you get a conditional use permit but still reading as it seems a little unclear:A short-term vacation rental may operate from a location that is not the operator's primary residence for a total of 90 days in a calendar year.

He can probably recommend a civil engineer that works on smaller projects like this (mine are all engineers working on larger developments not residential) and can likely take the lead on the permit process for you. 

Here's a short treatise by a title insurer:A deed in lieu of foreclosure is a deed given by the owner of mortgaged property to the holder of the mortgage or its designee where the mortgage is in default and foreclosure is a possibility.

We also just purchased a house in Oliver, WI that we plan to run as a short-term rental.

Reason being HML's are typically short term loans that are interest only.

Avoid leading with a low offer or mentioning how long it’s been listed.