I wish to stop bleeding as soon as possible and saving a few thousands might mean a world for me.

To add, in another thread with a similar topic @Brian Burke had this to say:Originally posted by @Brian Burke: Beware that after the mortgage crises some lenders didn't enforce their loans for YEARS so I've seen first loans with several hundred thousand in back payments that you would also have to pay.

After recently spending several thousand dollars renovating a rental unit to what I thought was really nice, the new tenant asked if I would be willing to replace perfectly good sliding closet doors to newer, more modern ones.

It beats wasting thousands of dollars on guru courses. 

You need to increase your car insurance to get them and the bulk of what you will pay is the increase in car insurance so they can call the umbrella cheap after you pay another couple thousand for car insurance.  

You can find a good used car for $5-8 thousand, less than 5 years old, probably less than 100k miles.

You are in too tight of a spot, need more reserves, I would suggest you be ready to pay 6 months of full carrying costs as well as a few thousand for repairs, especially going into winter in NJ.Worst case the person doesn't pay, you have to evict them, and something breaks or they destroy the unit.

It can be worth saving a few hundred or thousand dollars to take their title insurance, BUT only when proceeding very carefully.

I don't have a ton of cash to put into this (a few thousand), and would likely go in with another equity partner to provide most of the down payment money.  

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