Infact, I will be using Roofstock as a benchmark for much of this process and show you how you can easily get the deal that is on roofstock, before it got their with the sellers markup.It will be hyper-specific about one specific end to end process to end up with a  cash flowing rental property purchased directly from the MLS using a hard money acquisition and then refinancing into traditional bank financing after seasoning. 

My impression  is that relative to house prices, property tax in Hoboken are not too high compared to other towns.

Bottom line it still way cheaper in NJ compared to my closing in NY.

Property is relatively cheap compared to many places we might go from here.

@David Coronado,When shopping mortgages you need to compare the lender fees.

How long are comparable properties on the market?

I have a private lender that finances mine from a self-directed IRA but have had no luck with traditional banks.

Where as if you hop from one lender to the other yes they may offer 12% compared to 13% but is that 1% really going to benefit you more than building loyalty and trust with a company/lender that will save you 10% interest down the road?

You should still have plenty of value to add, make a little money and get your feet wet.Or.. go more of a traditional route and just buy a fix and flip with private money.

I would like to use this as a down payment on a flip, but not sure of the best combinations of financing to do the deal.I looked and I could go with just a traditional crowd funding loan from Prosper or Lending Club and pull out about 60K in cash, but the problem with that is I have to make payments.