Being in the area, I would think you might have a tougher time keeping good tenants over the long term if you are charging the same for your units vs a unit with natural gas heat.

I will give some back ground first, I've been investing lightly for around 10 years.

Accepting subs and adding it to a lien has always been second nature to every collector I have dealt with in NJ.

Needs paint, carpet, light fixtures, and trim.

Its a fairly thin deal, but super light rehab and its a short sale I put under contract when inventory was tighter than it is now...I've bought 3 houses since saying I'd buy this thing.

People that actually know how to change a light bulb, paint a fence or run, repair and put gas in a lawn mower have long since left.

To give you an idea of the circle it was the type of neighborhood that when the city wanted to come put light polls in all the neighbors got together and petitioned the city to allow them to put in the classic light poll at the end of the drive rather then the tall yellow light, light polls the city was going to do.

Would YOU classify income of this nature to be passive?

In the paired homes, the cabinets are painted - either white or light, light gray.

If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument.