We spent 30k on the project and now its renting for 1200 per month which covers our mortgage and some of our utilities!

You take a 1920's house to one and say "I want the whole thing redone" and I guarantee you none of them would ever say "20000 sounds about right"  I was a builder for about 5 years precrash and I used to tell people the base model started at about 75 bucks per sf under roof and we go up from there.  

It needs literally a million dollars of reno, and will be worth 25k per door when you are done! 

Hi, I was looking for cash flow in North-East New Jersey in rental properties, but at the max I reach at 0 cash flow.For example in Bayonne typical two family home(3 bed 2 bath each family) cost around $500K, taxes around 16K, rent around $1700/family. so after mortgage(20% down) , so total income is around $3400 also same is mortgage premium.other option is  private lending where you can earn around 10% per year minimum.also considering the point that home prices are all time high right now.Can somebody share their example of cash flow in area like Jersey city, Bayonne, Newark,union etc.

@Brian Adzadi exactly explained what I thought, too.This forum gets at least twenty new investors per month posting about "jumping into" their first flip with no real estate experience, absolutely no background in residential construction, but the sure and certain belief that neither are needed to pull off residential flips successfully.

My two cents...if I am not selling a property, I don't care if it's worth a million dollars or a penny, property values are inconsequential to me for a place that I plan to keep indefinitely.

They charge $37 per month for membership fee.

A triplex or fourplex can be compared on a per unit basis to a duplex.

Just throwing out my two cents cause I’m in a similar contract right now.

I spoke to a contractor who estimates reno at 100-120K per unit.