Another thing is that most any of the properties that I find will barely make the 1% rule and I have yet to find one at 2% or one that each door will cash flow at $200 as suggested, at least on a 15 year note.  

@Jason ClarkeAs a general rule, in NJ, areas with good school districts have lower cash on cash return because they are desirable places for families to live.Less desirable places command a higher Cap rate which translate into high CoC depending on the level of your investment.So a combination of good school district and solid cash on cash return is hard to find, in NJ.

I don't have good 'rule of thumbs' for you there on a per unit (for instance per foot) cost. 

Pick up 10x Rule by Grant Cardone and aim higher young man!

One thing I like to do in abq is if I’m purchasing multi units in rougher parts of town make sure I’m getting a good deal on purchase price (usually my numbers are around 1.3-1.5% on the ‘2% rule’ if you’re familiar with that so I make sure I’m getting solid cash flow.

@David EpsteinThe IRS has consistently ruled in favor of NYC coops for 1031 exchanges.https://apiexchange.com/new-york-cooperatives/

What we did on one of these was to do the project after we learned that they were already utilizing the bedroom as a bedroom anyways (against the rules) - we didn't increase rent right away but gave them a year at current rent, and gave them visibility into what we thought market rent was going to be after some time and the option to stay at the increase... 

Also, the number 1 rule to wholesaling, in my opinion, really should be “try not to wholesale”.

Hi BP,I am aware of the 2% Rule when it comes to Real Estate investing.

However, I live in Arvada, and it looks like Arvada restricts short-term rentals (less than 30 days I believe).