I do however want to express the high level of importance of knowing the crux of the information behind a project which I will touch on shortly.

We want to sell it and upgrade to a single family home also to be used as a vacation rental, but I'm not sure if this is the right time.I've seen articles and posts recently that the RE market has rebounded to 2008 levels and I'm wondering if someone can comment on the status of the RE market in southern NJ specifically because I don't see the rebound. 

trust me, if it's easy for me it's easy for anyone else who wants to do this.

They will be able to tell you about testing, levels of output, etc.  

Unless you trust these contractors very much, I would be worried about doing something like this.

@Robert Gravelle really is no right or wrong -depends on your comfort level living far from your property and being passive while you leave it to a manager (many dream of this!).  

You could try to obscure what you are doing with a trust, but probably not really worth the time, effort, and money and easy to screw up. 

I, personally, look for $200 per door, after all expenses and reserves, but that is a goal that you have to set for yourself, based on your comfort level.

So when you say cash flow do you mean (rental income - all expenses - mortgage payment (P&I)) = cash flow  - at the most basic level?

If the value is there to cash out more than you have into it, then you can balance how much additional cash you want vs. your cash flow comfort level.