Newark NJ - Need Guidance on a Fourplex

Hi – Need some guidance on investing in a fourplex in Upper Vailsburg area in Newark NJ.

1. Background:
   1. Analyzing a Fourplex, fully occupied, ROI ~8% on current NOI basis assuming 50% in costs (before forced appreciation) (could go to 10% after but not much higher)
   2. I would say D area (Low income, high crime). 1920s building and will need maintenance
   3. Low income tenants – on month to month and possibly on welfare (not sure)
   4. To date my partner and I have only invested in A or B areas and only acquired non occupied units so that we get to select tenants first hand.
2. Need guidance on the following:
   1. Tenant screening - What kind of tenant screening is possible to do before acquisition of the property. What questions should we ask and what documents should we review
   2. Does anyone have experience with tenant eviction in Newark (We want to price this in on the off-chance that this might occur). how should we think of related costs and time.
   3. Property management – does anyone have experience with a property management company who operates in the area. could you please share your recommendations
   4. What kind of ROIs and Cap rates should one be benchmarking to in this neighborhood of Newark

Experienced Newark Investors - @Ibrahim Hughes, @Steve Wilcox, @Angelo Mart, Others – do let me know what you think about Upper Vailsburg and ideal returns here. Also, what should I be looking out for. Are there sub-neighborhoods that should are very high risk for a new investor in this market category.

Thanks!
Shefali