He said that he has to go back a number of years to determine any losses that were not allowed for NJ that can be added to basis...He stated that NJ does not allow net losses on rental properties ; however, those losses can get added to NJ basis so he said he has to go back and review all my losses over time.  

Is it too much of a hurdle for the Local, Esq. to review the local law? 

As you narrow down your REI type, try to do the broad review approach to see if you have the resources to do that type or scale.  

Originally I was planning on buying a multi family in the area I live in, but after reviewing my lease, I’ve found that I really can’t break it and I have 8 months left on it.

I would want to see the full marketing metrics for same time.

Quote from @Chas Lumley: Quote from @Caleb Brown: Getting leases is typically done once under contract, I always have verbiage that leases will be reviewed by buyer within the inspection contingency.

I recommend requesting a review or a new appraisal that compares your property to similar multifamily properties in the area to ensure a more accurate valuation.

When talking to property managers, ask questions regarding any guarantees they offer owners and refer to any online reviews to get a better idea of how tenants and other owners feel about working with the company.

It’s smart to review the HOA guidelines before buying so there aren’t any surprises.

Well how many reviews were there and were they all 5 star. 10 Star now on Vrbo.