The last unit sold that was similar to the one I`m under contract for was sold 6 months ago, and it had been under a new build contract for a year, so the price was artificially low.

I have had my eye on a property for a few months .. noticed it was all over grown and not being lived in .. so as I was sending letters to the owner hoping to get their attention , i just looked at it everytime i drove by .. one day not to long ago .. bam .. i saw a van parked there and someone was mowing the lawn and the trees were cut and being cleaned up ..

There are a 'gazillion' RE agents that "think" they know investing because they can pop a sign in the front lawn and get someone through a transaction.... that too is a recipe for disaster.

It also has many vacant properties... just drive through these neighborhoods in late spring and take note of all of the front lawns that have not been cut.

You, on the other hand, are obligated to do your utmost to find a new tenant to mitigate their losses.We would apply the deposit and collected rent against all expenses resulting from their default, including unpaid rents, fees, utilities, lawn care, etc. 

You have to take into account, Mortgage, Taxes, Insurance, Property Management, Vacancy Rates, Pool Maintenance, Money for unexpected expenses, lawn care etc.

Those costs include your financing; mortgage or interest only(for hard money), taxes, insurance, utilities, lawn care, misc. 

 Probably need to manage everything or leaving lawn mower on site for self service. 

My husband and I are into flipping in Fair Lawn NJ and rentals in Hudson County NJ.

I have had buyers ask to either include or buy plants, furniture, lawn mower/lawn equipment.You can ask for a new kitchen and bathroom, HVAC, etc.