If I use percentages, than that would change based on the selling price of the apartment.

I've noticed in my research that rent price varies based on if and what utilities are included.

When doing your calculations for ROI, do you base it on the actual amount you have in it or on the amount that the property is worth(ARV, etc)?

If your looking to make an educated guess base your value on the homes that have sol and then add you best guess as to value of the additional land.  

I am also based out of South Jersey.

Now there are obviously many other ways to find deals and if you want a more detailed approach feel free to PM me and I will give you a more specific ideas based on your more detailed picture of what you want to do. 

Based on these lessons decide on one niche and attack it and get a property.

Oh and feel free to connect with me if you're a data/analytics based thinker. 

Based out of Tampa, FL, my interests are directed towards Florida prime and tertiary markets.

The average price of apartments, based on a quick scan of zillow, in Albany, ranged between 150,000-200,000.