If you'd like to explore STR, you can purchase one of them under second home loan for 10% down which reduces the cost of the downpayment so it eats less into your $500k liquid cash.

Property Taxes are a killer in NJ, they definitely eat up a lot of cashflow.

.- Quit drinking or going out to eat till debts are paid down.

Dump fees alone will eat that 1k.

I'm trying to purchase a 6 unit that needs some work and the 25% down required by most lenders will  eat up too much of my cash.Anyone know of a private lender who will go 80% on commercial who lends in NY?

This regulation applies to “a non-owner occupied room or group of related rooms within a dwelling used or intended for use by one family or household for living, sleeping, cooking and eating.”

@Jay HinrichsMake sure to eat something fried on a stick at the State Fair :)

With my wife and inlaws either eating out or just seeing what Charlotte has to offer us.

And you're missing the financing costs, which will most likely eat up what ever is left of the profit.  

Grab a cup of coffee or a bite to eat and you may just find an agent that is willing to assist.