At the end of the day singe families are tough in NJ for buy and hold but multi families have huge potential if done right.

It's a tough scenario.

The only exception I see this is some companies will hire relocation companies for employees moving for work since they are more familiar with the area however this is also a sign you may have a short term tenant. 

You might want to get your regulars agent to take a look at it for your market.I'm sure agents fight to keep the deals together if things start to go south, like a tough inspection, or some other issue when the commission is more. 

Small balance commercial deals like this can sometimes be tough to find financing on due to the small size but I know of a few great avenues. 

@Percy N. appreciate the honest opinion and I agree, and I am used to the grind having several businesses in the past Grocery store, Software company with 20+ employees in a physical location etc., taught me that:-) and I love to have that again only in the real estate Industry.

Ordinances are constantly change, every area/zone can be different and the legal speak can be tough to crack.I have started calling and talking to them before I proceed with a STR purchase.

How tough and hard headed are you.  

The fines are something like $37,500 for every worker for every day every worker is exposed to asbestos and then the business owner receives $37,500 per day fines for every violation in addition to his employee's fines and the fines always exceed $500,000 and are usually more than $1 million.I have a license to abate asbestos and was on a job one day.

Even in the current hot market where appreciation is skyrocketing, this would be tough to achieve.The best strategy would be to purchase property that you can force equity into.