That scenario of what you are proposing is so outside of the realm of anything even remotely plausible that it would be best to just forget about it.That said, if a borrower is in default, and approaches a loan officer (why they would approach a loan officer instead of a realtor, is beyond me) and tells that loan officer they are in default, and that loan officer happens to know an investor that might happen to be in the market for a purchase of the defaulted borrower's property, and the numbers work out to where the transaction can go forward and everyone wins, and introduces that defaulted borrower to that investor, it would be great.

On top of that, we have had several people approach us about managing their STR in the area while they are traveling for the summer.

The idea of getting it Section 8 approved was brought to my attention.

I would like to approach the owner to see if he would be willing to sell to me but not sure how to go about approaching the owner or obtaining the financing to buy 2 homes.

Also with loans you are trusting their underwriting system heavily so do your own Due Diligence.Great points brought up!  

And that is what brought me here... how hot is the premiere location high-end market in Hudson County?...

The other responsibilities is needed to make this approach legal. 

I think that in addition to my MF rentals that I want to pursue, I'm wanting to do a live-in flip (sell after 2 years to avoid taxes) on all my personal residences.Although Mindy, you brought up the fact that living in a construction zone stinks.

." - so I wouldn't recommend Facebook if you're looking for deals RIGHT NOW.Sellers can be brought in through Facebook with seller ads too, just again, be aware that these are not usually motivated sellers.In conclusion - Facebook is great for getting a lot of leads at a fast pace, cheaply - which can be used to build your database and be placed on long term drip campaigns so that down the line (6, 12, 18 months) those leads from month 1 & 2 start converting.

It took my husband and I a while before we took the plunge...we brought our first property last June and closing on a second SFH this Friday!