It's on the water, has a thriving downtown that is trendy at time. 

Can you have the tenants pay water/sewer/garbage?

One thing I did was get my own insurance policy and glad I did because I incurred 12K worth of water damage about a few months later after the transaction.

I'd like to replicate the current cashflow i got w a 2 family on south Jersey City, and know the market is red hot.. each month im missing out on opportunities that are better than the one I got.. and that was good. 

Is it state law that water and sewer be paid by the owner? 

They resist water and rot better.

You might not get as many buyers accepting your offers if it’s a hot property, but the low down payment is worth it in my opinion.

@Luz Pagan this is pretty typical in a hot market if you are a new player on the scene. 

Market is really hot and so I don't have anything to put it into right now and good properties go quickly with multiple offers in our area. 2.  

You most likely will have title costs, possibly attorney costs if in an attorney state, tax adjustments (costs or credits) water/heating fuel adjustments, some states have transfer fees, any lending costs if you have a loan, and I'm sure there are costs I'm missing.