Quote from @Timothy Newsome: Hello, looking to potentially use a hard money lender in NJ.

Also, good call on the potential rent control- I will research that a bit further. 

Point is, (a) it's all but impossible for the investment to go to $0 and (b) you have direct, impactful CONTROL of outcome. 2nd: Back to the CONTROL aspect.

With inventory expanding, it feels like there could be opportunities to secure deals, especially if the right cash flow potential is there. 

Wish you the best.If I was you, first step is evaluating costs associated with doing MTR and comparing with potential rental income to see if it makes sense to do LTR or MTR.

I would keep detailed records of my deals to include photos that I could use later when I am approaching a potential funding partner.

Technically yes, but your odds of success are very slim and your potential will be very limited.

By emphasizing your qualifications as the basis for your decision, you steer clear of potential issues related to discrimination.

@Kyle Cross, correct me if I'm wrong, but I think maybe what you're getting at is potentially pitching to your parents that you would like to take a shot at personally managing the units to gain experience and some form of compensation.

Aims for a balance between cash flow and potential appreciation.