Also your vacancy rate is low, you probably want that at around 8% since 1/12 = 8.33% (so you'd have one months rent set aside ever year).

Bottom line is you still have to analyze the deals, but there is a slightly different set of criteria you use. 

The cities hate them here and will set you up, find you, and fine you.

The thing I love about out of state investors that take the time to do that is, they bring a fresh set of eyes!

During this threat I set up several LLCs to quickly move the properties into and was prepared to do equity stripping through another LLC.  

I agree with most of what I've read here, but the bottom line is that you can set rules in place, but you cannot stop smokers from finding their way into your property.

If you give them a gift card for their inconvenience, you risk setting up an expectation that when they're inconvenienced, they get a reward.

There has to be a separate custodian that handles the money so you never get it in your account, but once you have it set up, it's really not too bad.And those loans have the benefit of being non-recourse, so there's that too

If you are interested in meeting for a cup of coffee, shoot me a direct message and we can set something on the books. 

Granted you're from NJ and your property could be a local one ( = more on the expensive side), but I would explore the alternatives prior to setting your course on syndicating this deal.Best!