After about 3.5 years (was only going part time because of the biz) I came to the same realization as you and went to my advisor to see what associated degree I could quickly get to get out of there and not completely waste about $35k.

As far as smaller scale investments, towns like Lyndhurst and Garfield with older homes in closer proximity to one another are still available to flip.Hudson county has a lot of smaller flips or two-three family new construction going on because a lot of the areas in Hudson haven't been renovated in 50+ years so there's a lot more to purchase at a lower price, plus with areas of Jersey City and Union City so close to hoboken and downtown JC and increasing in pricing so quickly, it's a more solid investment.

I think this information is beside the point since my understanding is based on a prior thread offering customer complaints that cite your bills.

It will help you either start quickly or seamlessly transition into wholesaling office and commercial properties.If I were in your shoes, I'd first save towards a nice place for your growing family, while learning the wholesale trade, and then focus on realizing your goals as a wholesaler.

Here's an except from a quick search I did:When Do Landlords Have To Return Security Deposits?

Thanks for the quick reply and heads up David... reposted, with a link to the calc.Thanks again!!

I did incorporate the water and electricity (the seller mentioned that the renters paid for their own), with the PITI eating up that much of the income (as you'd mentioned), the utilities would just push the whole thing over the edge.Thanks again for the quick reply and the second set of eyes.

We wanted to make a suggestion to them of possibly evicting the tenant, making a quick upgrade (the house is in a pretty good condition), then find a new tenant and adjust the rent accordingly.

The University of Windsor is quickly becoming a hotbed for international students. 

The auction process goes from unknown and terrifying to unimpressive and unremarkable very quickly once you get through your first one!