There does not appear to be room for reduction in operating expenses.I am doing my own due diligence but would also like feedback from others in the local area as to what they think of the location, the property and prospects continued growth in the area and for increasing rents.

There does not appear to be room for reduction in operating expenses.I am doing my own due diligence but would also like feedback from others in the local area as to what they think of the location, the property and prospects continued growth in the area and for increasing rents.

Yes, continue with a court case, and you will get a judgment, and it will be uncollectable, so get it framed and keep it as a nice reminder. 

One thing that rarely gets mentioned here is that you also pay for the education the JV partner provides you.

Hands on education is one of the best ways to actually absorb what you’re learning and test ideas.

I would be very concerned that they didn't really have the cash up front to handle the move, given that that I believe the laws in NJ are more tenant friendly if they continue to be a problem and an eviction is warranted eventually.  

@Oles Street Educate yourself, network with other investors, identify your target market, work with realtors to find properties, do more networking, build your team and make a leap to buy that 1st property.

Educate yourself for a deal, or buy over retail and make the money back via long term rents.

What I did to build my team was cold call everyone and ask them all for referrals.The same names will continue to come up over and over again and those are the people who can be part of your founding team.

Continue to collect rent.