If the inspector is so good at what he does ....he will see that the electrical was done to code and his concern is code and that is that! 

There is so much that I have learned from this site already that I wish I knew before making these changes and I am excited to continue learning from all of you. 

The thing with this is that there is so much information to learn that you must be cautious of so you don't end up in hot water.

Money is so cheap right now, why not?!

All sketchiness aside, $900 on a house purchase is so minor and shouldn't be a deal-breaker if it's factored into your loan.

Maybe after a year I could transition it to an LLC, but the financing is so dang cheap that I wouldn't want to move to commercial. 2.375% interest rate!

If I were you, I'd just assume the taxable value won't change from what it currently is (so, an SEV of $4m).

I can't tell if this is temporary because market is so hot or a norm in northern NJ and hence should be viewing the property from different lens and not from cash flow or CoC return perspective 

Secondly,  the market is so hot it might make more sense to sell it and invest elsewhere.  

Here is So Cal, the prices seem so high though.