If you have the time and know how, and business systems, and understanding of the law… whenever it becomes to much of a time suck to manage rentals.I went all in and couldn’t help myself or give up control so left my corporate job and started managing rentals full time for myself and others.

Units are all electric and have individual panels, water heaters, and HVAC systems.

I use a simple Podio management system that allows me to communicate with contractors daily.

Consultants like MEP and structural and fire systems are typical consultants we have that are like a GCs subs.

I took the two Tax Sale Certificates to the Bergen County Clerk, who refused to Record the Liens because she couldn't locate the two properties in her system.

I hope someone can help with what kind of big expenses  are in the multi family properties i need to know when looking for properties(can only think of roof, deck, insulation , heating system )Also, Not sure if I jump ahead but I am trying to sort out all the related expense for rental property below with my conservative estimate per yearProperty management fee (10%)insurance :2500property taxes: 2000 -3500Owner paid utilities : 2500( in case of paying oil burning heating system , if tenant pay their own electric heat so i guess i can eliminate this expense)snow/lawn: 1200Accounting cost: 100Vacancy reserve (5%)Maintenance reserve (10%)Can anyone give the idea if i include these expenses correctly ?

Amazing how fast people call you back on "where is my X-box".The new system in apartments is to be the internet provider, or have all tenants buy cable/internet thru the owner....as well as electric and water. 

I’m wondering what kind of system would be most cost efficient.

It still took me a while but knowing how the system is set up to me has made all the difference.  

The code requirements are the same for anything from 3 or 4 units and up, so it is very cost prohibitive to build a 4-plex when you factor in things like sprinkler systems, exit signage, parking requirements, etc.