Any special considerations I should write into the contract due to the Section 8 unit?

In other words, try to connect with her first as a person who has lost someone special and then as someone who'd like to buy her home.

I understand that the security deposit needs to be in a regulated financial institution account - I currently put them into my company's chase business savings account - is this good enough or are we required to open a some kind of special dedicated account?

The main downsides of a condo purchase is HOA control, for example, with a special assessment, they can ruin a deal.

You will also need to notify the county property appraiser that you are still the beneficial owner to make sure that they won't reset the cap on the assessed value of the property for your property taxes.Regarding the note, as you are not changing the name of the mortagee, there is no transfer of the note and there should not be any doc stamp.Also, avoid the quit claim deed, use a warranty or special warranty deed instead. 

Check out what types of properties the property manager specializes in.

Thank you for your insight, specially the 0.8% rule.

Make sure you know any special requirements in your city/state.

Normally what I see in that end of it is they cant afford true specially subs ..

@Judy Parker there is an attorney in Morris County that specializes in NJ tax lien issues, Micheal Pellegrino is his name, he wrote a book on this subject as well (NJ specific).