If you are paying rent and are on a lease or giving a check to someone every month.

I will have to circle back and check them out again.

I highly suggest you check it out.

I’ll have her check out publication 523 to see if she meets any of the qualifying reasons.

It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..Wishing you the best!

The more items you can check off the stronger your position to get the contracts.  

Yesterday I checked out a few properties in Phillipsburg, NJ.

I checked online and I did not find any standards/rules.The lady in the unit 2 facing the construction is working in the office most of the week and she pays a rent of $ 2750 per month;  we agree for a $ 300 rebate when we signed the lease few months ago.

Check out Zillow and other property sites to see what is currently listed, what has recently sold (and for how much), and what recent rental units have been leased for.I'd also try to make it out to as many Local Investor Meetups as I can to have conversations with new and experienced investors near you.

Is there a standard formula that takes into account the fluctuations of interest rates?