Hi everyone,I'm considering purchasing a single family home property in Union City, NJ, and would appreciate your insights on a plan I'm thinking about.

The variance will be granted based off the site plan submitted at the time and the variance application.

I do plan on managing my first property myself if it's a buy and hold, and as I accumulated more properties I will be hiring a PM company. 

My client's plan was to live in the property for a year and then refinance, however I explained that you'll only be able to refinance to another loan type if you have enough equity (20-25%).

Our plan is to start our business/investment there.

My outstanding loan balance is 163K @ 3.5%I calculated that I'd clear 900/mo after expenses.I was planning to buy my new house for cash, but with the market where I'm moving/buying I'm having to go about 100K over what I was planning, so I'm taking out a 50K loan for that property.

You should not care about historical numbers or trailing 12 months or last years financials.

Plan on 25-30% down. 

Many resorts hire seasonal staff that needs housing.All said, if you can acquire well, and your plan is appreciation, Tahoe is an awesome place where real estate is a limited resource.Consider snow removal. 

However, getting from simple Phase I/II due diligence to developing a remedial plan can be a large and complex process and costs would have a wide range until more is known.