Again what I'm hearing is to start getting single roof multi unit buildings where each unit is returning closer to $1k/mo ...Brandon

If you can extend the terms to 15 years you are closer to a break even, and over time it should be a great property, assuming you can add some value, reduce the expenses and the market appreciates.If the seller will not extend the time frame, I would move on.  

If you really want it you have to look a littler closer.

It had all the signs, but as i came closer to the window it looked like someone was still living there. but ever since then i started driving by and visiting the property. few weeks gone by i thought maybe its time to skip trace this bad boy.

It's like the 80/20 rule or shall I say closer to 90/10, most people will just go away after a while.

Zach, I would say closer to 3% is pretty standard.  

Also, might be a good idea to give your insurance agent a call and make sure you've got coverage if there's a dog bite issue.Additionally you may want to add a yard maintenance provision with that pet fee - dogs don't poo in toilets, and most don't have one specific spot.. they crap everywhere, and if you have grass, you'll now have lots of burn spots.Pets are a problem for me personally - I'm too busy to want to feed another mouth or pick up the yard, however I have several units in areas that it seems like every house has dogs... so if I say NO DOGS, I can also say NO RENTERS. 

We can makes plan closer to time.

It's unlikely I'll find another deal like my home as it's not representative of the market.I guess I should be comparing option #2 to the home I'd be moving into or my current home.  1) I can wait 3 months to move and then possibly not find a deal right away, all the time getting no return on my money and edging closer to higher rates.  2) Or I can spend a lot of my money now, start receiving a good return, lock in a great rate, and start saving that cash flow to reinvest in a new deal later.

I wouldn't mind hearing from others in Jersey City and / or adding anything to the mix that I can.I've considered investing again in JC because it seems the property is hot over there but then again, I'm not sure if I'm better off closer to home in Central Jersey.