How is it a different document is used in each state to terminate a loan, i guess is my question.  

Well I guess that more so would depend on a few different factors such as the condition of the house, rehab costs, the relocation costs, new comps of new neighborhood, any permits that have to be acquired and probably several other factors I'm unaware of. 

I would guess it would be safe to budget an additional 1000 per person.   

I guess I got confused because you are seeking a 2bd/1ba home. 

Since we don't know where it is it is impossible to comment you don't even have a single picture to allow for an educated guess.

I guess you can write whatever you want into a lease, but getting an eviction for anything but non-payment is a very hard road in NJ.  

I would be shocked if this seller is doing nothing more than playing with you.. someone who owns a 1.1 million dollar ocean front and have 800k in equity Is hardly a distressed seller.they will just list it and sell it.. not sure what your trying to do here but.. that's my guess.. just a seller who is playing you.

Although, I'd 'guess' that many fees are between $2,000-$10,000

This seems like an ideal opportunity to BRRR, I’m guessing if you bought for around 60k you should be able to pull out a good amount of cash on a refi and still have rents of $1200-$1400 for a solid cashflow property. 

Let me know what you think.I have considered Expenses as:Vancancy, (3 units currently vacant)Cap Ex (likely to need to roofs soon, HVACs are newish, unsure of water heaters)Maintenance (assume 6% to keep up the property, will adjust after inspection)Lawn Care (currently $300/mo. assume I can keep that contract.)Taxes (Currently $3100)Insurance (not sure what to expect, guessing 1200/property)Flood Ins: Not needed in this areaThanks in advance BP community,Winn and Kaitlin Merwin