However, I identified a deal in the southern part of Bloomfield (near Watsessing NJ transit station) I am interested in and do not know that area as well.

Also depends on if you will ever want/need a roommate, one advantage of a 2bd is obviously if you are ever in pinch you can rent the 2nd bd, but if your pretty confident that’s not something you’ll do, I’d lean newer 1bd, not to mention that’s where the best deals are right now.

I'm currently moving my portfolio to off market / seller finance deals.

@Gladys Cepeda It is always a tough situation dealing with an unprofessional HOA board. 

I would personally like to make the homes as affordable as possible because so many are struggling to get into homes right now and I would really like to help in any way I can (I'm the only one involved in this deal that feels that way though...)3.

Plus a RE investor that uses a property management company doesn't need, or want to deal with a system that caters to a manager.

Ask the manager to explain their process for dealing with maintenance, late rent, evictions, turnover, etc.

Perhaps they would entertain it as part of the deal as a cashflowing rental for them?

Feels like no deal at the moment.

From there you'll need to determine Debt Service (if it's a financed deal) and Capital Expenses, to then calculate Cash Flow.The Cash-on-Cash Return (CoCR) will just be Cash Flow divided by the All-In Investment (Purchase Price + Renovations + Closing Costs + Wholesale Fee).If you're wholesaling these deals, I recommend you aim to offer your buyers a Cash Flow of no less than $250/mo and a CoCR of 10% or higher.