I recently attended my first local RE meet up this last week and it was extremely helpful.

@Carlos Sanchez, just a couple of points based on your post:3 months is an extremely aggressive timeline, especially if you have squatters.  

(By the way I would love to see what other NJ landlords have to say about this, my experience is the courts are extremely unhelpful to landlords without attorneys.

I am still extremely new so I know this will reflect just how much work and research I need to do.

My schedule ranges from fairly flexible to extremely busy.  

One of my goals while we are traveling is to leverage the extreme cost savings that this full time traveling lifestyle affords thereby increasing our savings/investment rate to somewhere close to 70% of after tax income.

The only thing I would recommend off the bat is to be extremely conservative with your rental comps for the rooms.  

Therefore, I believe this property will maintain its value if not increase over time.The second property is located at an intersection of a busy, but quiet, highway that has seen development creep its way in a quickened fashioned over the past couple of years, so it is fairly ripe to get.

If the seller doesn't prove hardship, or the liens are too large to deal with, any of these can kill the deal.It then goes to the mortgage insurance people and the investors.If this all approved, the bank will issue a shortsale approval letter that lays out the terms of the deal.Most buyers walk away from shortsales due to the extremely long wait times and frustrations.

Actually, any advice about anything would be extremely appreciated.