For example, is STR is a legitimate conditional use and nobody raised any specific concerns about your property specifically and only about an aversion to STR in general then in fact there were no specific objections to your property as a short term rental.

@Carter Nelson send a dm if you are looking for management of any of the buildings you acquire in the twin cities area.

Build relationships there and focus on the market and not the shiny object of other markets. 

If the house needs renovation to make it "complete", and is only worth mid-$400ks after repair, then $515k sounds like you'd be overpaying.Some mitigating factors might be (1) if this is a rapidly appreciating area and that is your primary objective, or (2) you intend to live in one of the units and are willing to pay above market value because its a place you really want to live in.How does your Realtor justify their advice to offer so much over what you think the ARV is on a house that still needs work?

Welcome Marc Egeland There are lots of great people in the twin cities and the REIA is pretty good too.If you don’t already own a place I think a house hack is a great place to get started.Let me know if you ever want to talk real estate!

Metal objects in the grass you have to pick up before mowing.

Jeffrey, I'd be happy to connect as I am also in MN, but all my investing is outside of the twin cities metro.

Account Closed What's your objection to securing the loan?

It's hard to direct you to particular neighborhoods without knowing your specific investment objectives and criteria, but know that $450k for a multi-family in prime areas of Northern NJ will be hard to come by today.I'm an investor and investor-agent specializing in Northern NJ (Bergen, Hudson, Essex, and Passaic counties).

Thanks for your opinion, but it's just flat out subjective & I was looking for an objective person who has been through this before.