There were numerous changes in Dodd-Frank which govern these and if they are not drafted correctly could end up unenforceable. 

After numerous hours of reading and listening to podcast after podcast I am pulling the trigger on my first rental property. 

Risk and effort has to be worth the reward. 

FICO score crushed for the foreseeable future.2. stress on banking and investors who buy their loans.. maybe they just stop buying investor loans from small time landlord properties and you will see your values plummet with no liquidity in the market  just like 08 to 2010.reality is there are work outs for landlords there is mortgage forbearance for those that actually need it etc.. keep in mind 80% of renters are paying rent.. and on BP at least if you read the super landlords on this site hardly any of them are not getting paid.. its not a big enough problem that is going to curry public favor.. you are in a small business you do this for profit and loss and for risk reward.. don't want the risks don't buy rentals.

Hi @Craig Napoliello, It sounds like you are describing a Contract for Deed/Land Contract where you acquire the property, have all of the benefits and burdens of ownership, risks and rewards, etc., but legal title is held by the seller until you have paid off or satisfied the debt due. 

Tenants appreciate that it's announced in advance and that it's reasonable.Beyond that, I reward them by being a good Landlord with solid, written, fair policies.

With numerous programs in place and three stimulus checks out to most people and huge amounts of extended and expanded unemployment being paid, it will be the rare tenant who was so poverty stricken they could not afford $100 for a partial rent payment on occasion even once over the past 12 months.However, if your local state, town, or judges are putting restrictions in place beyond the CDC moratorium, then that may not work, obviously.Bottom line: Get educated, act firmly, and stay in control!

Just my two cents.In regards, to your desired market -- I think Bayonne is very attractive for numerous reasons.

I have read a few of Robert Kiyosaki’s books and I’ve been looking into highly rewarding career options including real estate.

I have read a few of Robert Kiyosaki’s books and I’ve been looking into highly rewarding career options including real estate.