There is definitely more local knowledge that comes into play on the list side of things. 

Worse case, if plan for the upside portion aren't approved, I would still see $400k once all is said and done.The only thing I am a little concerned about is the over-all political and economical climate of things in New Jersey... although this particular municipality has weathered the financial turmoil of the past exceptionally well due to proximity to NYC, etc.Is anyone on this site still playing in the New Jersey speculative market? 

You can still win in real estate, you may just have to switch up your play.

It is a nice, quiet neighborhood with good schools right across the bridge (about a mile away) from downtown New Brunswick which is a city home to Rutgers, RWJ Hospital, Johnson & Johnson, NJ Transit train to NYC and a lot of development going on including a brand new theater and a huge development project at the train station which will include shopping, food and apartments.

My tenant kept trying to bring up housing code violation, no heat for a few days, gas leak etc etc with bogus documents, literally tried to make it seem like its the most unsafe and hazardous apartment he lives in.. yet its a brand new apartment. 

IMO, that's the base case you should be measuring against. yup right now being the bank is one of the better plays while we wait for the market to reach an equilibrium. 

Hey guys I’m brand new to BP!

I've read that using a HELOC for the multi-family isn't a good play. would my only option at this point be to wait until i've saved enough?

Bear markets are scary and they play tricks with the investor's mind.  

Hello,I am brand new to REI and needed some advice.