Correction: New Jersey Hotel and Multiple Dwelling Law

Sending out direct mail is great (can be costly if not done correctly and most importantly you need to be consistent), but I would also recommend that you do some driving for dollars and buying list from listsource and cold calling the owners to see if you can start the conversation from there.

I wanted to quickly run by the numbers and get some input if 1) my approach was correct and 2) best practice for those numbers (I will be researching them myself also).

You are correct that the larger loan is the one worth 21000.

Read Tax Free Wealth by Tom Wheelright for a great explanation of why you should meet with your tax advisor first to determine the best structure for tax strategy and then have that person work with your attorney to ensure the structure is set up correctly.

@Mike Leising Simon is correct you can use conventional loans (I used an FHA for my first BRRRR).

Escrow holdbacks are a great tool when understood and used correctly, but by no means will it really fund a rehab of a property in most cases. 

Hi, This is my first time posting so apologies if I didn't to something correctly.

That is correct in my market.

If so, you may want to edit your original post to correct this.You have a $2,000 expense listed for a "super."