If you don't have a contract it is up for grabs and who comes to the owner with cash and a contract, first.Write a Offer To Purchase, get it signed, try to put a small down payment as low as a few hundred dollars, bring the Purchase Contract to an escrow company and get the property tied up legally.

Some people have hundreds or even thousands of single family homes. 

Generally these taxes are pass thru to the guest anyway (permitting is not but usually only a few hundred dollars)...however, if you are operating currently out of compliance and not collecting, you might want to save some aside in case the tax man come a calling to your town for past taxes due that you can no longer collect from the guest

Gloucester City, Oaklyn, Clayton, Glassboro, and even Blackwood all MFHs where you can househack and be only a couple hundred dollars out of pocket.If you want to break even you could venture down to Vineland/Milville/Salem but you have to be prepared for a longer commute north and have a thicker hide.Best Luck!

While there are probably hundreds of little things that have added to it, I think the #1 key to my own success, and I think for many others, is that I surround myself with successful people. 

I think if you're dealing one day with hundreds of units you might to use something like Appfolio.

At the end of the day, as a landlord you’re turning over the keys to an asset likely worth hundreds of thousands of dollars.

I have no other debt besides a few hundred on my cc.

It's still going to cash flow a couple hundred per month positive after all expenses, including the 10% management fee I pay to myself and the 5% I set aside for CapEx, but I wouldn't do this type of deal again. 

I want to make a lease agreement for a decent amount of rent, to cover my costs of major repairs just in case, and pay my Papa a couple hundred for lot rent so he can cover property taxes.