It answers a lot of common questions for new landlords.

I live off the rental income and am not employed right now.

I know it's probably not the common "investor" way of thinking when looking at a home, but I could see myself living in this house so I got emotionally involved in the place (DOH!).

Real estate generates income even while holding on to the property.This is a common misconception.

That's the state of lending today. 80% LTV with cash out is actually very good. 70% is more common.

It is not that it needs repairs, I just would never live there, is that common for low income areas?

Not common?

I'm learning that tenants get a very fair share of rights in NJ and that evictions can extend many months (the worst I heard of was six).Has anyone determined the optimal/quickest way to get non paying tenants evicted.By this I mean:- up front screening (credit/employ check/crim. bg)- stronger lease clauses- security deposits, etc- tactics- lawyersIf anyone has devised a process for minimizing eviction time and lost rent I'd like to hear from them.Thanks

Three of four points, 15%, 70% LTV and six to nine months is common around here.

Your best bet is to find your own properties before they become common knowledge or listed for sale.