It might be easier to find the right single family home and configure it for a comfortable housemate situation. 

I would feel more comfortable buying something that doesn't need much work but I feel most turn key ready houses in JC are priced to high for the area.

We found a houae in need of significant repairs we were comfortable with and at a significant discount.

We manage in town, but I don't feel comfortable enough to purchase in NB myself.

Do what makes you comfortable and let's you sleep at night.

Seeking a mid-size operator who is city-wide/regional and is comfortable taking on value-add opportunities. 

@Craig Curelop I've been more comfortable flipping in the past, but am not opposed to starting to build out a rental portfolio.

If not, you should not do business with that company right now, considering the dropping rate environment? 

@Ayana Rose this was a smart move as you probably would've been scammed or highly taken advantage of during the transaction.My lenders are comfortable at 75% LTV and I have a small hand that will go to 80% LTV in LARGE markets.

Based only on your description, if this were my market I'm not sure I'd even be comfortable paying 50% of the current price at those rents.