How did you approach them and what did you present to potential lenders?

I like REM (Rod Kheliff) and the approach they take in including their investors so I recently made an investment into their latest Dayton Ohio deal.

You should have a documented list of what you charge for typical expenses such as general cleaning should you ever get challenged on withheld fees.Ensure the one that is moving out of a room clean that room to your satisfaction.Did the one that left break her lease?

After years in the business, some can afford to take a more consultative approach.

The loan approach is maxed out at $50k I understand. 

I’m looking for a 2 family home, budget is 350-375k max, and in my area (Hudson, Bergen, Union and Passaic counties in NJ) that has been quite the challenge.

If you feel you can make a strong case, then I would challenge the appraisal.

Your bigger challenge could be taking title in the LLC for the new purchase, unless working with a local bank who will allow it - like Firstbank.

When they're selling for $170,000 and renting for 1600/month, they can approach too-good-to-be-true.I do think the stadium will generate more commercial investment to the area, but I'd have to ponder more how that would play into appreciation/rent/demographic changes.

Anything over 4 units should be analyzed on an income based approach.