@Mark DiPietro we have a few units in Statesville and have been very happy with the performance.

That said, for me 60 days notice does nothing for me since I won't advertise or try to show the unit until its vacant and prepped.My recommendation is to discuss with them and if you are honestly aggrieved by the lack of notice and it impacts you discuss a flat fee deduction from the security deposit.

So I have a Jersey City 4 Unit rental property that I own w/my wife with a Rent Roll of $8750 a month.

Single unit or like a whole development?

A typical small multifamily deal for us is to acquire a shell between $100K to $300K- (2 to 4 unit); Spend $200K to $300K to renovate- then rent each unit between $2000-3500 per month. i encourage investments outside of the major metropolitan areas but was advising this first-time investor to not forget the bottom line ROI. 

My original plan was to move into the “turn-key” unit and rehab the other two units over the course of an estimated 6-months.

It would be a section 8 rental, the fair market rent for section 8 (hud gov site 2024) on that zone is 1200 for a 2 bedroom, since it's a duplex it has two units with 2 bdr so the total rent would be 2400 (both section 8 tenants).

The end of the lease is coming in a few months and they keep asking to keep the rent the same price because they can’t afford much higher (currently could rent maybe $50-100 more a month on the unit, but would need a lot of repairs, cleaning, and occupancy while I do this so I’m fine being a little under). 

There’s a whole different formula because they rent per person and it per unit.

Some (not all) homeowners policies can be endorsed for a 2 up to 4 family set up where you rent out the other unit(s).