If you don’t pay, you’d lose them all.Unless you have 400k plus reserves plus closing costs in liquid cash this is most likely your best bet.

And that's a pretty safe bet.

If you don't have one, then your best bet is to partner with an experienced operator to leverage their experience.

From what i have come across and learned, cash flow is best for these properties and betting on appreciation is a risky place to invest on.

So I am betting in the end you will be doing some work.   

Betting you have of at one time had solar power and that's the electric circuits that switch the utility and solar power on and off to the home.Be REALLY careful those wires that are loose on the top right (the one with red tape) are the size of the wires that come from the utilities side of the pole.

You're best bet is gonna be to do what I did and relocate or invest in out of state property from NY.

@Kevin Urena One thing to keep in mind is that there is a planned extension of the PATH train to the south ward near the Weequahic section so buying on a good block near that planned station could be a good long term bet.

Thanks in advance for any advice here.Eric If you can do 5% down, Freddie Mac's renovation loan is a better bet than FHA.

A really cheap property that needs a lot of rehab has to be managed.You also need experience rehabbing,Material shopping, permits, managing sub contractors, order of operations, managing payments, checking work, and accurately projecting all of those numbers in the first place to make sure you get a good deal.Best bet is to buy more of a turn key rental for your first purchase.