I want to begin by saying that I do not recommend just ANYONE doing this, and my story is based in Florida and what we are able to do here....with that said, here's how our deal went down.I was contacted by a seller who wanted to get rid of his house and not deal with Realtors, staging, showings, repairs, etc.  

If you want to get into multi-family investing that's not far from NYC, I recommend checking out Cleveland, Ohio.

This is what I recommend for you to get started in your real estate journey:1.

have more cash Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I have a couple good recommendations. 

Alternative Investment Suggestions: Are there any alternative investment strategies you would recommend for generating cash flow in New Jersey with the capital I have available?

I found Foremost, who would take new clients with a loss history, but they are not able to insure a condo policy.I also tried working with insurance agents but have not been successful so far.If anyone has a recommendation for a great agent or an insurance company, I would greatly appreciate it.

However this opportunity will not likely come up again.Question - Outside of family/friend investors - what would you recommend as an alternative, IF there even is one.

I will be looking into the areas that you have recommended.

Andre - For starters I would recommend you read "Short Term Rental, Long Term Wealth" by Avery Carl;   You can find that book right here on BiggerPockets.