I took a few pertinent bits from the IRS website. 

Hopefully this post makes some sense..Stuff about me:I'm about 75% finished with the BiggerPocket's "The Book On Rental Property Investing" (that blue book) and have listened/read quite a few of the resources on this site. 

Any websites to find out property`s sqft in NJ?

I plugged a phone number into a search engine and came up with nothing.BTW I found it odd that this website didn't alert me to the presence of these two responses.

-Go to a website like bankrate.com and use a mortgage calculator to see the total cost for each scenario, and how each amortizes over time.  

Why do brokers only put properties on their own websites and pre-offer them only to a few select clients?

Check out the websites in the signatures of the people who respond to this and similar posts.

They attract people with some money...you can finish that sentence.

On first sight, it looks like the attic needs finishing, with dormer windows added.

Bathrooms, toilet rooms, closets, halls, storage or utility spaces and similar areas are not considered habitable spaces.Habitable space requirementsCeiling height-RequirementsR305.1 Minimum height.Habitable space, hallways, bathrooms, toilet rooms, laundry rooms and portions of basements containing these spaces shall have a ceiling height of not less than 7 feet (2134 mm).Exceptions:1.For rooms with sloped ceilings, at least 50 percent of the required floor area of the room must have a ceiling height of at least 7 feet (2134 mm) and no portion of the required floor area may have a ceiling height of less than 5 feet (1524 mm).R304.4 Height effect on room area.Portions of a room with a sloping ceiling measuring less than 5 feet (1524 mm) or a furred ceiling measuring less than 7 feet (2134 mm) from the finished floor to the finished ceiling shall not be considered as contributing to the minimum required habitable area for that room.Floor space- RequirementsR304.1 Minimum area.Every dwelling unit shall have at least one habitable room that shall have not less than 120 square feet (11 m2) of gross floor area.R304.2 Other rooms.