I feel Ike they pivoted quite a bit in the last few years since city and subsequent county license requirements spurred an STR plateau and the motivations are a bit deeper and multi-purposed now.Take parallel economies, such as Uber/Lyft, the ONLY two TNC license holders in the state and each year pay an excise tax of a few hundred thousand a piece, if not more (just for the permit, not including the whats taken from drivers).

I'm eager to make informed decisions and ensure all legal and regulatory requirements are met before proceeding.

Also they have the ability to stall said permit until they put up landscape bonds which is the only thing the city is requiring now. 

Bigger Pockets requires that.

all rental dwelling units built before 1978 are required to be inspected pursuant to NJ Lead-Based Paint Inspection Law, NJSA 52:27D-437.16 must be inspected for lead based paint by July 22, 2024, or upon tenant turnover, whichever is earlier..."

Plus, like a foreclosure, DILs get reported on her credit report, though I understand they get treated less severely.The basic requirement of a DIL is that it has to be 100% completely voluntary.

I’m looking for cash flow and am not afraid of value-add properties requiring work.

How much will you require for a down payment?

Most of them are C class with 8 of the 38 units probably D class being in the least desirable area of town, but the pattern is the same.

If it is per building how do I answer the other questions about rental days (most critical) or rather rental income so as to ensure i am providing the information the IRS requires.