Also worth mentioning, some areas in Bergen are very strict with occupancy laws so be careful with what you may do in relation to house hacking.

So here in Fort Collins, we actually have a strict occupancy limit, 3 unrelated adults, which makes it easy to enforce as it's an addendum that's required on all leases.

@Jeff Copeland   our county sites here are not super accurate.. and we have both trustee sales and sherrifs sales.there is a product called property Radar  that tracks trustee sales in 3 or 4 states but they have a HUGE amount of other data on their site including google and non owner occ color coding.. its like 50 a month and boy is it one of the best I ever have used.I got a STRICT foreclosure here in Oregon in Nov. which non of the big foreclosure buyers were tracking and I credit prop radar for that one.. its has HUGE margins in it..

So from the rental investment stand point, especially if you are doing a remote investment, it is a good set up as long as it is an HOA that is good (such as the ones in Day Break communities, super strict HOA rules and restrictions for rentals)

., and/or building regulations are insanely strict so that even if you wanted to build and could find the land the government won't let you or will put up as many roadblocks as possible ... these are the type of conditions that produce persistently limited supply ... couple that with persistently high demand from good weather, good jobs, etc. and prices and rents can and do skyrocket over extended (multi-decade) duration.

You invest strictly for cash flow.  

There are pretty strict rules are "selling away" that many firms have.  

I've just been using CMBS thus far, so perhaps those requirements are more strict.  

I personally won't touch residential properties as strictly cash flow investments - I love buy and hold, but I do it when I see a good buying opportunity in a specific market that I think will see appreciation in the next 18-24 months.

Buddy Holmes looking at it as a strictly investment not living in duplex.