So now that the property has been foreclosed and it is bank owned, you should be looking to see when it gets listed on the MLS if you still want to pursue this specific property.

@david I’ll definitely check out central nj any areas specifically?

As an investor, I apply more specific numbers. 

What specifically are the differences in way of managing from monthly rentals? 

As far as I know, insurance is state specific, and regulated by laws of the states.

Has the legal owners been informed of your method of liquidation, are you prepared to settle if you can't assign, what will you do if  the owners decide not to come to settlement, how will you respond to the assignee or sellers in the event of a default, have you considered specific performance suit by assignee or sellers in the event default, have you made full disclosures? 

Are the double closings/simultaneous closings legal in CA to be specific?

But good properties are always scarce.Before I give specifics why I do not agree, it is important that we have the same definition of cash flow and ROI.

I am wondering specifically in the context of if you’re trying to qualify for a mortgage/loan/etc from a bank type of institution?  

Specifically some of the more affordable communities that can still pass as vacation markets.