Although small in the scheme of things, these investors have plenty of capital and a network more, so I need to deliver.

Any info on capital gains tax and what that looks like in NJ?

I really want to buy their home and turn it into a rental but I don’t have the capital.

The idea is this:  I might make $1,000/ month buying out of state in cash flow,  but I can deploy the same capital to make $3,000/ month in appreciation here in Oakland over the long term 10 - 20 year time horizon. 

I really want to buy their home and turn it into a rental but I don’t have the capital.

I have not had the units rented due to the ongoing renovations but I believe they could rent for around $2100 in total rent from the apartments and the storefront per month.I am interested in selling this property as I don't have the time or the capital right now to finish the renovations.

As for HOAs, they aren't cheap but they reduce your insurance costs, and assuming you have a good association they take care of capital and maintenance costs, so it's not like the money is thrown away--you're basically just outsourcing certain expenses via that means.

I’m not willing to put an offer in on the sole basis of a public MLS listing, so I was thinking of asking for a P&L statement and some further information on the current leases and recent capital expenses before committing anything.

The last rate I got was 5% on a duplex so that would put a NNN around 4.5%-4.625%I'd also recommend Bellwether Capital out of Charlotte.

But if done wrong you could very easily lose all of your capital.