For a NJ house hack, set a tight buy box near your train line or bus route, run actual rents from listings and PMs, and stress test with higher taxes, insurance, and utilities.

All of these are options but its really difficult to analyze someones situation with very limited data.

Check gas valves and test for any leaksRefrigerant Levels: Check refrigerant levels to ensure optimal cooling performance.

If you are going to invest in Illinois, choose small towns south of I 80 and check out more of our work at www.truthinaccounting.org (FYI: I’ve been a bigger pockets listener for years- it’s fun to stumble upon our work- these conversations are what the data is for!

The Schlage Encode has been the most reliable and tests better in extreme weather conditions.  

Data-driven and ready to chat!

In addition, the rent and appreciation have been flattish over the last 2 years (depending on the source of the data).  

and if what is there is even legal or usable.Assuming its not usable or that the best course of action is to redevelop, You are Likely looking at a zoning variance, unless the area is already mixed or changed zoning.in general when I've encountered these rural sellers that are seeing the area built up with new development they seem to think their land is worth what a finished data center is worth with facebook as a tenant....so yeah I guess assuming they want to sell at a land basis that makes sense it could certainly be a deal.

I can see that as a way that may "play in the gray" but seems like it would pass the sniff test (but I am not an attorney).

Using a HELOC can be powerful if you’re disciplined and buying for cash flow from day one, especially since it gives you flexibility without selling assets, just be conservative with leverage and stress test higher rates.