Talk to EVERYONE that you are now in real estate and ask for their business.

You only do that if you are rich enough to afford it. 

I've called a couple title companies there and they are not familiar with the process and one said that the practice CANNOT be done in the state of IL.

@Sidney Johnson just make sure that your finances and relationship are in a good place to attack this from a position of strength.

Outside of that, looking for value add opportunities that help maximize rents and understanding immediate needs to turn it over to the a rental (appliances, fixtures, paint, flooring, etc.). 

Having said that, we are unsure how New Jersey and the DCA is going to define Lead-Free properties. 

Investing in real estate is a great way to generate passive income and wealth if you are in a position to do so.

Just go talk to more sellers and find one that has the same type of property and condition as this one that is motivated to sell it to you for a number you want it for compared to comps. 

Home prices are way up in the last few months.

Sounds like a cash out refinance would be the best way to tap into that equity.