This becomes a normal LTR deal then, and you lose the advantage of STR (2-3X monthly income for you).

Also depends on if you will ever want/need a roommate, one advantage of a 2bd is obviously if you are ever in pinch you can rent the 2nd bd, but if your pretty confident that’s not something you’ll do, I’d lean newer 1bd, not to mention that’s where the best deals are right now.

What made you interested in investing in this type of deal?

I'm currently moving my portfolio to off market / seller finance deals.

However, I identified a deal in the southern part of Bloomfield (near Watsessing NJ transit station) I am interested in and do not know that area as well.

I would love to partner with someone on this deal, but in the event that I can't, is there such thing as an assignment fee for finding a great investment property and turning it over to someone? 

Plus a RE investor that uses a property management company doesn't need, or want to deal with a system that caters to a manager.

@Gladys Cepeda It is always a tough situation dealing with an unprofessional HOA board. 

I would personally like to make the homes as affordable as possible because so many are struggling to get into homes right now and I would really like to help in any way I can (I'm the only one involved in this deal that feels that way though...)3.

Ask the manager to explain their process for dealing with maintenance, late rent, evictions, turnover, etc.