I usually put granitea) The price difference between laminate and granite will almost always cover it self in the sale. 

Rental income is good and vacancy rates are really low.I would also say with a little work on your end you upgrade the units and raise rents especially since a 4 unit is not subject to ETPA .

In order for it to be a good buy you want total rent for both to cover the mortgage PLUS vacancy (8%), CapX (10%), repairs (5%), and management fees (10%) (all percentages are just general, you can tweak as needed). 

I generally use 5% of rent to cover this. 

@Ricky Si I think that in NJ they announce if and to what the sale is subject To.

You want it for at least 20% below market, which is $132,800.You go through with a contractor and he estimates $20,000 in repairs so you pad it a little and say $25,000 to cover some undiscovered issues.You offer the owner $107,800 and tell them this is your bottom line to ensure you can make the necessary repairs and turn a "reasonable profit."

I Have been reading books over the past 2 years or so on the subject and Have just finished "Finding and Funding Great Deals" which has given me the urge to just start somewhere and soon. 

Another good source of funds is to have the world’s largest remodel cover the cost for you.

Electrical bid is high - but it is reasonable to be high here - he has no idea what he's committing himself to so he is covering his backside.

Of course rating neighborhoods is very subjective and you may have a different view than I.I also suggest you visit the market you are considering investing in, and meet with the providers before you close on any one property.