Hi, everyone,I am new to real estate investing and plan to start investing this year.

Check in with @Joseph Chiofalo they have NJ second lien loan programs that can go up to 95%LTV but lower on 2+ units.

Tenants want all their damages to be considered normal wear & tear.Owners want nothing to be considered normal wear & tear.Insurance companies will depreciate everything they can to lower their claim payouts.

.), and send me invoices every week.However, they never sent me the invoices each week, and when I asked about the overall cost of the project toward the end of may (the project started in May), they told me $35,000 so far.

Welcome to BP Deepak,These forums are a great place to learn and meet people, whether you're just starting out or you're a seasoned investor.

It's definitely harder to find deals today given lower inventory and lots of competition.

We typically won't consider a deal lower than 9%.In other words, for the amount of cash flow this deal generates, they are asking about TWICE what it's worth.At the $240K asking price, I don't see a deal that would make sense.I recommend you find out how they came up with this price and also why they're selling.You've got time: I doubt this property is going anywhere anytime soon! 

I started looking into this because my neighbor had to hire a process server to find how to serve the Management Company.

Starting in August, we can't do that.

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.