So, I am outside of Philadelphia and it takes me 5 minutes to actually leave my house, cross the bridge and physically be in New Jersey.

To that he answered: your best bet is to talk this through with the seller and try to come up with an arrangement so that he does it.This deal is in trouble and the legal due diligence is coping with a hard red flag:- On the one hand, my business instinct tells me to walk away because something smells shady and can have very bad consequences down the road.- On the other hand, this is a very good deal for the following reasons     - Very good area     - Good cashflow, even if we were to ignore the basement and only consider 3 unit

I'll bet it's a major consideration for families (behind safety and school district).

My experience with trying to find lenders on my one with which one can actually work when not being physically present has been - bad.

Besides if it is listed, then most buyer's in your area have already seen it or know about it, before you have.Dealing straight with a property owner is your best bet, instead of going through the agent for every little thing.

I currently live in LA so I won't be physically present, but I rented already before on Airbnb for a year being far away from the place so that's not an issue.Thanks a lot!!

good luck I bet you saw some nice little older bungalows that would make for nice rentals in that area as well.

Your best bet would be to get an FHA loan.

I bet it is worth more than 0.  

I did get a copy of the 90-day notice that they sent to the renter a month ago but after speaking with the renter, it seems like the owner did not notify SEC 8 with the same notice.At this point, after all the advice you guys have given, I feel like the best bet might be to get both the renter and section 8 to honor the original 90 day notice and forego trying to collect the remaining 2 months' of rent.