I have done this numerous times.  

After numerous conversations and running numbers my thoughts started to shift.

In the File Place you can find several deal analysis spreadsheets, due diligence checklists, and numerous contract and agreement templates.Lastly, once you have a real estate investing deal in your sights, make sure you stop by and check out the Bigger Pockets Real Estate Investment Calculators.

I also think there's quite a big difference between an F area (war zone) and a D or D+ area, but the nuances might be lost on most folks just giving these areas a cursory look.  

In the File Place you can find several deal analysis spreadsheets, due diligence checklists, and numerous contract and agreement templates.Lastly, once you have a real estate investing deal in your sights, make sure you stop by and check out the Bigger Pockets Real Estate Investment Calculators.

Jersey City has a lot to offer, however, you want to make sure you are not in any "war zone" areas.

Be careful with bidding wars.

Effective communication, negotiating skills and knowledge of numerous ways to structure a deal is what makes you money. 

I will not go into a bidding war because there is already little margin of cash flow with these properties.  

Ive been doing some research and ive been told that some investors wont go below 50% of the median home value of that city.So if you had a $300k median home value for a certain city, then most people would only go down to $150k areas as generally they find any lower than that to be war zones.Just throwing it out there to see what other seasoned investors advise!