I am not sure if I want to pay 70 USD per unit per month when the main purpose of this house is to have monthly cashflow.Thank you in advance for your help.Tereza

My impression  is that relative to house prices, property tax in Hoboken are not too high compared to other towns.

Bottom line it still way cheaper in NJ compared to my closing in NY.

Property is relatively cheap compared to many places we might go from here.

@David Coronado,When shopping mortgages you need to compare the lender fees.

How long are comparable properties on the market?

This inherently makes me worry about you getting unmotivated to buy your next one since this one likely won’t cash flow much per month, BUT if you’re patient and understand the purpose of the investment then this could still be a great deal because it will lead you into your next property where you cash flow much more.Like: So this deal doesn’t really fall into the normal type of property that I invest in because there is a lack of cash flow per month, but stay with me for a second.

Where as if you hop from one lender to the other yes they may offer 12% compared to 13% but is that 1% really going to benefit you more than building loyalty and trust with a company/lender that will save you 10% interest down the road?

Unfortunately, it's not the same thing.You can have positive cash flow but still show a loss for tax purposes - which is very common.

I'm also curious as to what the cost difference between doing just the upper floor compared to both the upper and main floor.