It’s important as a limited partner to be sure that the sponsor/general partner is qualified and that the deal and market are a fit as well.

@Jesse Santos, if this rental is in NJ then the 1.5 months security is the MAXIMUM allowed by law.What is the typical security deposit for a rental of this type/quality in your market?

I do not want to put money into stock market right now.

I worked with many high-end designers, and some were great and other were just into their little niche styles (green for instance) and so the project sometimes can end up just looking weird.I would go on Zillow (or similar) and see what the houses in your neighborhood look like when they are fixed up pretty and ready for sale.

See if you can run comps and narrow it down to the few that are in your neighborhood or as close as you can get to it.

If so, and if your HOA allows, you could market this as a mid-term furnished rental and charge a premium for rent.

Was it available at a good price or did you get it off market?

I appreciate your thoughts and am absolutely keeping an eye on the market, resales, etc.

There are a lot of great, renovated houses in excellent neighborhoods in Bergen County.

I personally am located and invest in the Colorado Springs metro area and would advise that you may not find many BRRRR opportunities on-market and will have to do some work to find these deals off-market.