Hackensack has the largest employer in the state (Hackensack meridian health) however institutional investors already rebuilt down town area and you can only rent which leads to what I said above.

In that figure you have to include everything like escrows for taxes, insurance, maintenance reserves; as well as recognize that you will have to cover things you might not have had to pay for in the past like health insurance, and additional escrows for income taxes and possibly employment taxes depending on how you structure your business.One other major concern is just the ability to qualify for an additional loan without a w2 job.  

A great book on this topic is "Work Less, Live More" by Robert Clyatt.My biggest fear is rising health care cost.  

If yo I have your health & a solid income you have live better than 99% of the people in the world.

Jerry,Thanks for letting me know this is a Health Insurance plan.  

The house is already paid off and they are preparing to sell the house.I don't have enough money saved for a downpayment right now, and my credit is average (I've been using credit a little more over the last year investing in launching my online health biz + in educating myself about real estate investing).So.... here are some initial thoughts I had: - see if my dad (as the executer of the estate) would hold the note, and I could make monthly payments to him as if he were the bank - then when the time is right, refinance and pay him/the estate for the house- ask if he'd lend me some money for a downpayment or co-sign on a mortgage so I could take over ownership of the property, and then pay him back over timeAny other thoughts / advice would be much appreciated!

People can go on about  mold and lead and other health hazard but those are manageable over time.  

Lenders are tightening their standards but doing their best to uphold guidelines that are good for lending and the future financial health of homeowners and investors alike.

No wireless cameras with batteries to replace.

Unless your state has some weird law, preventing you from proceeding with eviction, due to health issues.