I have had success with both in PA, but rentals are considerably better in PA than NJ.

Considerations:-Cost to build at $350/sqft -Estimated value of 1,000sqft DADU (3bd / 2ba) after completion: $600K-Estimated after completion value of 2,000sqft single family (4bd / 3ba): $900K-Estimated after completion value of 1,000sqft ADU (3bd / 2ba) after completion: $550K

Any MFH you buy for around the 500-700 range in Central Jersey in a better town will most likely require a lot of work, so you have to take that into consideration.

Take into consideration all closing cost, realtor fees, repairs etc.

I just got engaged to my fiancé, who graduated college in May and has a considerable amount of debt.

You need this skill because even in a tenant segment with a high concentration of reliable people, not everyone is reliable.There is another consideration: where to invest.

Please feel free to reach out with any leads or referrals.Thank you for your time and consideration.

They have been making good use of the influx of tax money that came into the market from the influx of visitors during covid and have been reinvesting into the area for some considerable improvements. 

Any insight on whether the ROI would be worth it or other considerations I am missing would be much appreciated.

People create funky names for LLCs all the time.There are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.