I will give an update shortly...

The property became a short sale, and was on the market for a year.

I have a financial adviser but he's a stocks/bonds/etc. person, and I don't want to increase my holdings in that area of finance any further, so I don't really know what kind of person to look for, for advice of this nature.

A house in my area, listed for about 130k, needs work, bank will/wants short sell (sale?)...

On top of this, it is a very walkable city with great parks and access to water (Hudson River or Newark Bay) and a cruise line.As a heads up, Bayonne will be going through a tax revaluation shortly.

I mean, here’s my short answer—If you’re new and want to jump in the game, if it was my situation— I’d make an offer below list price, make sure remodel is legit, and verify those suggested rents. 

@Assaf Kehati Short answer- yes, it's the perfect time.

An exposed roof left like that can destroy a house in short time .

But since some things remain unresolved, I can't get into them for the time being.The short version, is that I had received only about 1-month notice to install a fire alarm system.

Mutual funds would be better than individual stocks.