The kind that looks like fake bricks and is similar to roof shingles has a flat surface and pretty easy to cover over.

Can anyone recommend a good Roofing contractor for North NJ?

Thank you @Brandon Roof!

Property specs: 920 sqft, 3 beds, 1 bath, year 1960Needs: new floors (currently Spanish Tile 12x12), full bath remodel (last updated 12 years ago, all white subway 4x6 tile), needs new roof, needs landscapingThe kitchen is about 7 years old (cherry wood cabs, black/white marble countertops), A/C 2 years old

Not sure how old the home is but you definitely want to check the roof, plumbing, central heat and air conditioning (which sometimes can be a deal breaker), and any siding that needs to be repaired on the outside.

It was a 1960s build with holes in the roof, severe mold and wood rot damage.

This is going to be a pita but you are going to need to deal with it. 

@Brandon McNultyCapex includes those big items; roofs, floors, kitchen cabinets and counters, plumbing, mechanical, electrical, etc.  

Long play for appreciation seems ok, many people on west coast do appreciation over cash flow.you might want to plan more Maintenance costs depending on age and condition of roof, siding/paint, furnace, water heater, plumbing ectProperty management for 8-10%, unless you will manage yourself

He said 50.Not sure what he paid at auction, but this was just purchased at a foreclosure auction.Newer roof and gutters.