Write down all your expenses so far, including your time spent moving.

If you are able to put the property in a business name and separate the flow of money and put a wall between personal and business you can protect your personal assets.Taxes - It is going to make things a lot easier at tax time to show your CPA what your expenses have been. 

I make a little over 100k a year and have 50k currently ready for a down payment. any insight would be helpful.NJ/NY is crazy expensive so I'm not surprised you're looking out of state.

That way you can also factor in expenses.  

Brandon(same name),If you sent in the $50 fee to apply and paid another $50 in person then the city will apply the extra payment to the following year (2013-2014).

I paid him and we did a quick claim deed.

This means that they are going to look at the ratio of the Net Operating Income (NOI, or income - expenses) divided by the monthly debt service (your monthly payment).

Are there unnecessary expenses that can be cut out?

I would want a fixed interest rate for as long as possible for risk mitigation on refinancing & predictability of debt expenses.

The key highlights of this slate of bills includesAdditional Excise Tax on STRCreation of a statewide STR registryStandardize safety requirements across the stateProtect the ability for local government to zone STR in accordance with their needsThis isn't the first attempt at statewide regulation, and its clear the bills as written would be operationally burdensome to put into place for the state (aka, expensive) and the problems they are trying to solve are not, in all, a result of STR in our communities but of bad tax laws already in existence.