NJ does not allow deposits in excess of 1.5 mo, so like a pet deposit must be added to security and the total not exceed 1.5 months.

Considering that, I think adding value to existing investors in the area is the best way to start.

Start by calling your zoning/building department and ask if adding an ADU is allowed. 

I typically do only minor updates (fresh paint, new fixtures/carpet if needed, & outlets (to freshen the place up)) however on my last one I did a much more extensive update (flooring, doors, bathroom & kitchen) while expensive, I think I’ll make it back over the next 5 years because I was able to increase rent on the unit by over 50%....I’m sure there are folks with more experience than me, but just wanted to share how I approached the decision.

I missed out on a duplex in Del City that was a couple of blocks from the base just last month. 

How I found this deal: I posted an ad on Craigslist targeting a local area for back taxes, foreclosures etc.

I bought duplexes when I started and looking back I really wish they were 4-units for that added cash flow.

Hi Ian,From what I see in Boston area - it is possible, but not in prime neighborhoods, more in run-down neighborhoods with properties that need extensive rehab.

Therefore, I plan to look at alternative ways to find these people aka probate, FSBO, For rent ads, pre- foreclosures, etc. if you can find these people what I’m planning to do is to see if they would be willing to do a terms deal.

Look for a place that can easily be turned into a rental and probably can add value to it with your own labor.You might could even buy an investment home and get what's called a "house hacking" loan with a 3.5% down payment and is an "added value" investment.