Hi NNJ BP Members - Can someone help me determine the cost of construction for a major renovation in Northern NJ.

A majority of those would probably be rejected by us for one reason or another, but it shows that the demand is there.There is currently one house for rent in a less desirable area, and it is falling apart.

There was also a fire in the home less than 3 years ago, so all the major ticket items have been replaced already.

Listed properties have gotten to crazy prices like the majority of the RE markets out there these days.

It is on a major road, and you cannot compare it to houses that sit within a normal neighborhood.

I ran across this property that has the potential to be a really good investment but the ENTIRE house has an extremely bad mold issue and it needs major repairs.

Most major lenders will do a 30 year mortgage on a non owner occupied single family property with 15% down so long as you don't exceed 4 residential mortgages.Once you get past 4 and go into 5-10 you need 25% down.

I assume this would only be possible if I owned the condo association or had majority hold in it.

I know this can appear "below the line" but on a 41 unit project you will have real, major costs down the road that you should be prepared for on top of your regular OpEx.

That, or I'd head out to the major airports like MCO.