I do plan on living in one of the units if the property is in a good location.

I assume this is a house-hack of a multi-family since you're only planning to put 3% down.

Also, unless you have to I wouldn't plan on paying the tenant's utilities.

I do plan on showing up with a sheriff or some kind of law enforcement when that day does come.

Not knowing the eviction rate at a property can throw a massive wrench in your business plan and return projections during the first few years of ownership.

At $925/unit the tenant base will be alot rougher on the unit than you are planning.

@Johnny Napier thank you Johnny, your plan worked out well.

Many different areas are good for different plans. 

The article Mayor Steven Fulop posted:https://www.nytimes.com/2018/10/26/realestate/jersey-city-grows-up.htmlI am worried that it will impact my goal where I plan to flip my current condo to a rental.

But it is definitely important to think about the future and plan for it accordingly.