Starting out with a duplex in NJ
I recently found a duplex in a desirable area of Bergen County. Upstairs units is 1 bdrm/1 bath and the current tenant has been living there for 10+ years. The unit rents $1100 a month, which seems to be under the fair market value. The downstairs unit is a 2 bdrm/1 bath and rents for $1800 a month. The unit is also tenant occupied. I think the duplex is in a good area, easily accessible to trains, grocery stores, restaurants, etc. The seller is currently asking for ~$520k. I would appreciate any input regarding the price, things to consider when looking at a property, etc. My wife and I are currently looking for our first property!