Agree with @Rick Albert.Project your ROI from renting for the next two years, and then see what your options are for a better return elsewhere.If none, then keep it as a rental for two years and then re-evaluate.

I want to know if the area I'll be heading to in NJ has any new developments planned or maybe even in progress.

Having stuff filed at county and allowing you to progress with rehab (barring and city or state specific details) would work just fine in my opinion. good luck @Jonathan Mason

A strong sponsor team will have already evaluated the property to ensure the cap rate is comparable to others in the area, but you could double-check that your property isn't’ 4% while others are 7%.#2 – What’s the reversion cap rate?

The building I’m evaluating has a certificate of inspection from the state of NJ (green card) which says it has 4 units.

There are a few properties in particular in those 2 towns that we're VERY interested in and would like to start reaching out to a realtor or realtors in the area to see about progressing further. 

I think that is a more fair way to evaluate "the deal".

Investment Info:

Single-family residence buy & hold investment in Barto.

Single Family Home in rural area

What made you interested in investing in this type of deal?
We wanted something to h...

Hi everyone, In this post ...http://www.biggerpockets.com/forums/12/topics/51498-question-on-market-evaluation...

The refi is going to cost here $5000 or more.Both her and your dad really need to set down and evaluate their lives, savings, and goals.