They're easier to own in that the HOA usually covers things like landscaping, exterior maintenance, roof, common areas, community pool, sometimes water/sewer/trash, and sometimes a blanket insurance policy. 

There are a whole host of tasks you can outsource, from landscaping to record keeping to chasing down rents. 

Just closed on a lot in Petersburg, VA and wanted to know if anyone could recommend someone to cut the grass on a regular basis. Lot is small at 2500 sq ft.

Would it make more sense to lower prequalifying factors and attract a demographic who would stay in your rental for the long haul? 

Lastly understand the demographics for the area surrounding your potential investment so you can create a correct risk analysis and how much rehab you may have to do when tenant leaves. 

Yet, some markets have still remained strong, particularly when focusing on the niche demographic of what's known in the industry as "renters by necessity".

I will be active involved such as landscape, upgrading some homes, etc.Not sure if it is allowed since space rental is considered passive?

Then you must consider what the landscape will be once a vaccine becomes available.

I'm specifically interested in someone familiar with the rental landscape in northern New Jersey.

As a new landlord, I always make some improvements to landscaping, lighting and signage so tenants are reassured that I am not an absentee landlord.