I ONLY take advice about ly real estate investments from people that have real estate investments and even with that a grain of salt is heavily used.  

The distressed houses will be 250k+, I don't know for sure but I did look at setting up a network in Salt Lake City a few years back and I remember the price to play being very high and it was a competitive/active market with a ton of cash transactions.The minor leagues to this REI thing is:1) Get yourself ready by opening an LLC. 

This is a good example of the pitfalls of remote investing . . . not trying to rub salt into your wounds. 

The strategy I have found for exploiting the tax loophole is to acquire a multifamily property, such as a duplex, at a minimum.Please take my advice with a grain of salt and consult a tax strategist or CPA before taking action.

just a few thoughts taken with a grain of salt.1 - too many pictures. im a big believer in less is more. for example, you have 10 pictures of the game room, 7 of the kitchen, you have a picture of just a nightstand with a lamp. also, add captions to pictures so people know what they are looking at.2 - get something on the walls. they are plain, get something on there that will help people remember your place as they sift through multiple properties.

Moreover, there are likely going to be a number of differing views, and we will take each with a grain of salt.

Or is the hype overblown about owning rentals in NJ and I should take it with a grain of salt? 

$3,500 ownership payment in Gilber/Chandler + a massive lump sum down payment vs $2,000 to rent in Scottsdale with cold plunge, sauna, steam room, himalayan salt room, and plenty of botoxed duck lip neighbors and no responsibilities + able to invest the $1,500/month in an appreciating market (SPY, TQQQs, your favorite fart coin).But equity but equity.

And while rents have increased since the fires, they are still relatively low compared to purchase costs and debt servicing at today's rates.Now, currently legislation proposals on SALT limits may change the math if you fall into the itemized tax deduction category, but that shouldn't be a deciding factor. 

You could in theory 1031 exchange the property if it was a rental for a while before hand, but I don’t generally recommend those unless you plan to continue building a rental portfolio for years to come.all this should be taken with a grain of salt as I am not rendering tax advice, just thinking out loud here.