EtcI don't think either path is bad, but there's a lot to consider.

Wild card: is there a middle path I am missing that would generate good cash-flow at low starting capital that works either while i still rent or takes me out of having to rent?

Their permitting is fairly straightforward but if you are changing zoning, you may face unpredictable outcomes during public hearings.

Often referred to as the "6th Borough".The food scene is outstanding.The Path train from JC has 4 locations. 

Most of it seems fairly straightforward but the agent said the house is overrun with cats and that it smells horrible.

Pretty straight forward since he knows the place needs work.Does anyone have a vacate end of month to month lease document that you could send me or do I need to go to a lawyer?

Again, I'm just trying to figure out where potential bodies might be buried as I go down this path.

@Candace Ellison Hi Candace, you are on the right path.

.), then it's not really a good deal ;-) I should have titled this post something along the lines of "looking for the path of least resistance" for a minimalist RE investor, because I really am flexible to whatever makes sense.

Not that everyone has the same goals, some might be willing to accept close to even or no return or are confident they can keep the maintenance and capital investment #s low... as long as they're going to get that long term equity pay down... rental market will always be strong here.I did just notice an a 1%ish rule in a foreclosed andover small multi family, but with as-is foreclosed not always being so straight forward there's more work with the condition of the property, getting the prior-owner out if they're still occupying, and possible surprise liens.