For instance, if your minimum is $50k, your average will likely be between $60-90k.

In this instance I’d try out the Hoa and only use a property manager to find a good resident to live in your rental This will keep the cost down tremendously.

The point being, while I am a huge advocate of permits on all projects that require them, in this instance, I would probably wait for tenants to move out, and then renovate when you have more than a week, AND hopefully get more rent.One last anecdote: I did a gut renovation of my small bathroom at a prior house, without permits.  

If you have a 12 unit for instance, you may need to consider, grass cutting, snow plowing, cleaning hallways and common areas bigger water/sewer bills and dumpster fees. this could cost you MORE than 50% of your gross rent in expenses. 

South Jersey is very vague.. for instance, I live in point pleasant, which some consider to be South Jersey.

one of the more important team members.. random lenders can be quite dangerous.. and as an agent U will learn to guide your buyers to the right lender. for instance on my new construction here in Oregon I will not go into contract to sell one of my homes if the buyers is using Rocket 

For instance the 2% rent/sales price how close to 1% will you go before it’s not a good deal?

For instance, I wonder if anyone has experience owning one apartment in city A and another apartment in city B.

In these instances, the syndicators can raise enough equity to cover the capital stack.  

There have been many instances where a builder had issues selling when the buyer's lender would not give loan approval on these properties.