Hey guys I need some quick advice and I am getting deflective answers from my CPA. 

The only reason I've been able to purchase 3 houses this year is by showing POF and closing quickly.  

Just choose your partners well and don't move too quickly until you are certain you have a perfect match.And I could see where a long-time management company relationship could one day grow to where the management company is making a financial investment in your acquisitions (alongside your other investors).  

Nobody will accept an offer if they don't know whether you can actually buy it.That's especially important around here because anything that's a reasonable deal will go under contract very quickly. 

@Ben Bymaster, college is the place to learn safely.

As far as smaller scale investments, towns like Lyndhurst and Garfield with older homes in closer proximity to one another are still available to flip.Hudson county has a lot of smaller flips or two-three family new construction going on because a lot of the areas in Hudson haven't been renovated in 50+ years so there's a lot more to purchase at a lower price, plus with areas of Jersey City and Union City so close to hoboken and downtown JC and increasing in pricing so quickly, it's a more solid investment.

It will help you either start quickly or seamlessly transition into wholesaling office and commercial properties.If I were in your shoes, I'd first save towards a nice place for your growing family, while learning the wholesale trade, and then focus on realizing your goals as a wholesaler.

Here's an except from a quick search I did:When Do Landlords Have To Return Security Deposits?

Thanks for the quick reply and heads up David... reposted, with a link to the calc.Thanks again!!

I did incorporate the water and electricity (the seller mentioned that the renters paid for their own), with the PITI eating up that much of the income (as you'd mentioned), the utilities would just push the whole thing over the edge.Thanks again for the quick reply and the second set of eyes.