I'm not familiar with the program you mentioned so I don't know what it offers above the current DYI approach.

Non sure what the best way to approach this would be so I'm asking for your advice.  

You could still do a modified or slower approach to BRRRR by looking for value add multi's that need economic and/or physical upgrade that you can do as tenants turn over and improve the quality and value of the property over a year or two but still with ongoing rent/cash flow. 

Another approach is when someone gives notice that they are moving, financially incent them to allow showings and behave during showings by offering cash if the place gets rented to someone else while they still live there.

Section 8 housing is also incredibly prevalent so make sure that is something you are comfortable working with should it come up.Otherwise, try to stay close to all of the universities and the greater downtown area (and areas near the Path Train) if you want to focus on the Newark area.  

I am incredibly excited to start learning more and getting to know my area better.

@Patrick Liska, these details are incredibly helpful, thanks for taking the time.

@Steve Vaughan  I'm not sure if this was the best approach to get out of a rotten deal however I assigned the land contract over $0.00 fee and had the end buyer sign a mutual release agreement that releases liability on all aspects of the property and gave him the rights to my Land Contract and mine has been dissolved.    

This could have the makings of a solid house-hacking candidate, which isn't the norm for the area.Kudos to @John Errico for the incredibly thorough response.

If they have an asking price, my offer on their asking price is the best offer.I approached a real estate agent about a month ago on an advertised apartment building (8 units) with an asking price and "owner willing to finance" advertised.