I’m currently in the oil field working and saving while I try and get into real estate.

We shaved off $4k or so in labor, fence material, side entrance material, different flooring at lumber liquidators, different granite via actual granite place vs. the quoted menards source, and other small savings by making small changes.

(not counting lower maintenance costs like no more oil changes etc…).

History suggests that this area is basically a warzone and that investors should stay away, but recently I have been seeing a number of articles announcing big expansions/construction in the area.I know that most of these projects will be dependent on the market for oil/gas/petrochemicals but currently and at least for the forseeable future the energy market as a whole (besides coal) looks strong. 

I don't think "keep digging" is particularly helpful advice whether hunting for gold, oil or missing owners.What I've found is that you have to combine art and science to prioritize your efforts to be effective.As a new opportunity detective, I suggest you reorganize your efforts and eliminate any property you determine is bank owned.

I understand folks trying to shave a percent here and there; but I don't do my own root canal either!

Like the car salesman/hustler who converts “ups” at a super high rate; or the guys hustling oil well participations over the phone.  

I know there are probably better house hacking deals if we looked further out in Newark, Rutherford etc. but the other half needs to be closer to the city with her work.1 big downside, there is currently an oil tank that provides the heat/hot water to the entire building, I'm trying to see if the seller is willing to remove prior to closing (I'm aware of the environmental disaster issue).1) Assuming we need to stay this close to the city, does this look like a good first time deal?

Hope you get another better offer :)I don’t worry until the buyer asks what the viscosity of the oil is. … 

The only thing I would anticipate needing in terms of capital expenses in the next few years would be a new HVAC unit which is on the older side, but we have already budgeted for that and have a service contract with a company that manages our HVAC, water heater and oil tank.Am I crazy for thinking that a property management company would be an unnecessary expense in my case?