Properties are generally much cheaper relative to the rent they pull in, than in NY.3) Lower fixed costs - lower real estate taxes for starters relative to your rent roll, etc.4) Lower variable costs - labor is A LOT cheaper here.  5) Less stringent code enforcement.6) Less maintenance - milder weather, and younger average age of homes make for less maintenance.   7) Diversification - low entry price to buy property allows and investor to manage risk by buying properties in different neighborhoods instead of putting more eggs in one basket.In additional to the benefits I listed above the city is growing so fast that homes rent very quickly, often times before the sale of the home.  

I asked my realtor why the low price and the previous owner owes $119k and is trying to leave the area.

Mercer County NJ is extremely fair.  

I'm now licensed, and am extremely wary of even accepting offers from agents in that national firm... 

Your lender is giving you an opportunity you wouldn't have otherwise (to buy, rehab, rent, refinance and repeat) and in this instance, looks like a fair (even low) price.  

We stopped using bandit signs becasue it cant be a real hassle and the respone rate in my area was very low.

I'm starting off as a no to low money down type investor lol with so much more to learn.

These books teach you how to handle situations, how to find solutions based on your value system, set clear boundaries with people and overall understanding people's motivations and why they do what they do (which is extremely helpful in any interactions with people).

. $350k- $375k (I am extremely confident on that, and could be higher) Overall, with that, the numbers will work. 

Welcome to BP @Xavier Tazanu Check out Brandon's book on Investing with no or low money down, it's a great resource on creative financing.