The benefit of this is that if the police catch anyone there that shouldn't be they can arrest them on the spot.Also if the tenants aren't paying and they let the utilities get cut off you can get code enforcement to set the people out in 24 hours because the house is not habitable without utilities.

I would keep an eye out for a multi-family property. 

I can see with my own eyes certain areas improving, demographics shifting, and speculate with confidence when it comes to value-adds.

If you add management and then repairs / CapEx start catching up with you, @Don Wyllie, I think you'll be in the red.

Cash Flow - to be determinedEven if you only make $5 cash flow, you get a home for 0% down, that tenants will be paying off for you eventually :) Some Cons: If you lease the home, it becomes an Investment property in the eyes of Uncle Sam. 

At this point I’m feeling a little over whelmed like the dog who spend his days chasing cars and one day he actually catches one and don’t know what to do with it 😊 I’m totally up for the challenge and plan on nailing this deal but I need some advice.Thanks in advance for all your help and feedback!

@Ryan DaigleThanks for the suggestion - I’m specifically trying to understand at what point you incorporate a PPM vs a partnership agreement.

I would much rather get it into another REI that incorporated a compounding strategy. 

What general eyes tests do others use.I live in northern NJ. 

Appraisal values for 2020 are based on the value of the property on Jan 1 2020 so while it might catch up to a buyer if the value is low, it would not happen until next year