It is located in an area I am very familiar with, in a high income neighbourhood on a quiet street near parks, schools and all other amenities.

The property is located in Essex County in the Montclair area.  

You can google "We Buy Houses in LI," call bandit signs if you see them, go on Craigslist and seek out ads who are looking for properties, or even post an ad stating you'd like to work with investors to bring them deals and locate investors that way. 

If you can't locate a deal in NJ with which you can generate your target return, look out of state.

Even the ones that talk about things you're not particularly interested in doing are still valuable because they'll often touch on topics that are important across all facets of real estate investing like finding financing, locating deals, etc.  

But happy to be out prior to all of the bad publicity of the algea water.

Systemize the routes, plot the locations, use an ap called simpleCrew and hire someone to do the routes on a routine basis.

It's a pretty safe location for rental income, lower crime and a fair amount of appreciation, however you are probably going to pay a fair amount in property taxes, purchase price, etc.

There is a wealth of information about the dos and don'ts of out-of-state investing and literally hundreds of threads on BP about it- people discussing best locations, sharing successes and horror stories, giving recommendations, etc.

Like many houses throughout Palo Alto and Menlo Park (including Steve Jobs' home), this house was originally developed by John Brooks Boyd and famous developer Joe Eichler.This house is owned by a local investor, who is currently rehabbing it to offer it as a class A SFR.TO LEARN MORE about the project, send me a note and I'll provide you details on the date/location of the meeting.Floor plan of an Eichler Home designed by John Brooks Boyd.