Jersey City LTR Newbie
Hello,
I'm a STR investor in the Poconos but looking into getting a Multi-Fam with 2 units in Jersey City for LTR. It's close enough to home as I don't plan to occupy one of the units. I took a look at https://www.jerseycitynj.gov/c... and the ordinance to research what the requirements are. I couldn't really find much in the ordinance but looking at the registration form, it looks like I am allowed to rent both units if not owner-occupied? Can someone confirm this for me? I was looking at properties south of Journal Square. Would love to be closer to the path trains in Newport but those are sooo expensive. My budget is $600K all-in and I'm very open to renos; actually prefer it. I am afraid of not collecting rent and squatters. Anyone have some experience they would like to share?
I'd like to also connect with a knowledgeable RE agent that is familiar with the regulations surrounding landlord and property management in the area as well.
Thanks in advance!
-Cindy