However, I am a bit confused because the bill that the governor passed says different (see below)https://nj.gov/governor/news/news/562020/approved/20200901c.shtml

I'm confused about your suggestion to include this on Schedule E, since the Schedule E is tied to particular property. 

The PEX/pipelining thing is confusion between water supply (pex) and sewer lines (cast iron, clay, even tar paper)..

And while the last paragraph was very helpful about clarification on roles, I was a little confused about the last point you made. 

If I were to do it again, I'd get in with a wholesaler and get a lot more acquainted with  what neighborhoods have good appreciation...THE CHALLENGING PART IS THAT THIS MARKET IS A BIT CONFUSING!

But that is totally counter to your question here where you mention putting down 20%, so I'm a little confused.

@Wayne BrooksYep you are correct I was confusing it with Indiana where tou cannot foreclose unless taxes are brought current.

I put the numbers into the rental calculator on BP and played with some numbers to try to get as accurate as I could without stepping into the property.It's a little confusing to find hard money lenders on here.

A bit confused on this one..

It's a very confusing thing.