Worst case just demo your house and create a separate entry door for your another tenant @Albert Bui @Carlos Valencia

NJ taxes are too high, barriers to entry is too high, the markets too hot, there are no deals out there, I'll never make it work with an FHA loan, etc.

Lots of decent working people who just want a clean, safe place to live, happy to pay rent on time and the cost of entry for an investor was pretty low.

However, NWC can be very lucrative for investors as rents are normal market rates but entry price is lower.

I spent time listening to some excellent, free sources like Michael Quarles or the Bigger Pockets podcast.The entry fee for the program varies.

A couple of reasons listed below:- Lower barrier to entry relative to Northern Virginia- Possibly better cash flow (?)

It will need some work but it is vacant,  bid starts at $25,000, pictures are posted, and it is tour-able so it seems to be lower risk than some other foreclosures I have seen and definitely a lot lower risk than the condo which has a HOA freeze and a much higher entry point for a first time investment. 

MS Excel, while free, can lead to user-error, and can be time consuming/manual.This year as our investment portfolio increased (managing 9 properties ourselves), we made the switch to QB and I am very happy with it, especially since it will combine my entire position and for each individual entry it lets you attach supporting documentation.  

Also I kind of reluctant to entry it, as vacation homes usually get a largest hit during the recession.

Because there are a lot of Males Under 35 that are in entry or mid-level positions in their current career.