If not, I guess I could count them out.If anyone has knowledge -- or can point me to a source that explains this thoroughly, I'd really appreciate.

I will need to thoroughly rehab 1 unit and install a new roof before I can rent the third unit for cash flow but at that point the numbers work well.

The interior and exterior of the property may need a thorough clean up too.

It is important to thoroughly research and understand the commercial real estate market in your area before making a decision.

Also called a non-QM loan (from rate.com)Qualified MortgageNon-qualified MortgageLenders must follow ATR rulesLenders do not need to follow ATR rulesLenders require thorough income documentationLenders may not verify incomeBorrowers must meet lenders’ credit score thresholds to qualify for a loanLenders may extend mortgages to individuals with low or no creditQM loans may be backed by government loan programs like VA and FHA loansNot eligible for VA, FHA and other government loan programsInterest rates conform to current industry standardsInterest rates are often much higher compared with conventional mortgages

Very thorough breakdown, thank you Jared! 

There're many important pieces in your situation, and only after a thorough discussion - I'd say a good hour - can somebody give you a responsible useful advice.

Yet (but use ALL the tools here on BP you paid for)- Learn from the Webinars here and continue to ask questions- Analyze as many deals as you can to familiarize what you will be comfortable with- Attend meetups and go with your criteria in hand - Contact wholesalers and ask to be in their buyers listAbout NJ/NY is tenant friendly area but that can be mitigated by making sure you pick a property manager that thoroughly screens tenants.

My advice to my clients at that point is to at least freshen them up with paint, maybe rental grade carpet or LVP depending on the local market, reglaze the tub and surround, then make the place SHINE with a thorough cleaning including windows and screens.

@Lynae MameyResearch FHA thoroughly.