However, the only "deals" in the NJ area seem to be in Newark, Irvington, Paterson or other areas we'd rather not live.Towns with great schools and a great neighborhood are have very few multi-families available and the few we've looked at are negative cashflow due to high purchase price and property taxes.We've talked to our realtor about REOs and short sales but so far he hasn't found us anything.We've explored cheaper towns bordering high crime areas and although we can find houses in the $200-300k range, taxes and lower rent prices make these properties barely positive.

If that's your motivation in getting your license its not worth the time or money.I would always reach out to traditional methods of financing before exploring non traditional methods as your interest rates will be lower.

I'm just starting to explore the RE world, and want to get into flips and eventually buy and hold rentals.adrian

I don't want to put flowers and rainbows around that, because the court doesn't force to Mortgagee or Borrower to accept any one option only that options be explored formally.

Suggest you explore the "Forum" menu item in the top left.

Just giving you some different angles to explore.

I am eager to get involved in real estate early and I have been exploring options for financing this property.

I would explore how these units were converted and make sure everything is in order with proper HOA paperwork, etc.

On the down the road, we may explore the possibility of becoming involved in commercial real estate.I did purchase a duplex in 2008.

Thanks for your serviceCheck out the free Ultimate Beginner's Guide to Real Estate Investing at http://www.biggerpockets.com/ubgLocate and attend 3 different local REIA club meetings great place to gather info, resources and meet like minded people.Jeremy consider exploring the need for military housing.