I am purchasing a property that was built in 2022 and it is a SFR.

Hello Bigger pockets community, I'm brand new to the real estate game and recently purchased my 1st property.

The vacation property was purchased in 2017 for $500k and currently valued at $1.3mil. 

You can do the math, but assuming it takes 6 months to get your money back you will be floating these types of purchases with cash or hard money loans. 

In the end, I prefer the long-term rental route with a good tenant though and over time when I start traveling for extended periods again, I will likely shift them back to long-term.I personally, would not purchase a property for the sole purpose of being a vacation rental - it's just not part of my investment strategy though, I have met people who do quite well with that model. 

I am considering purchasing a large 2 family in the Bergen-Lafayette area of Jersey City with plans to convert into two condos (plans area already in place).  

I suggest setting your goals and determining the investment approach you would like to pursue.

Typically, most lenders will require a minimal of 20-25% on a multi-family investment property purchase. 

What are some areas to purchase in that have good school districts and will invite long term tenants. 

Does anyone know where I can find off market properties to purchase for rentals???