Finding property in New Jersey for that price range is pretty tough... and that's why we buy our houses in Tampa, Florida. In fact, we're the largest seller of investment grade real estate in Florida, and we have 10 houses right now in your price range. Many of the houses are cash deals, but some of them may qualify for financing.
You can check out our entire inventory of wholesale investment properties here: http://btgh.com/tampa-florida-investment-properties/. If you see something you like, call Matt at 813 205 1291. He's our top investment consultant and a seasoned real estate investor who works almost exclusively with out of state investors.
In the $60k range the majority of the tenants will be lower income.
I would just watch for extra Community Development District Taxes and do a lot of research before buying. You will want to see the financial statements and at the least the last years of Board of Director meeting minutes to see if there are known stuctural issues or the possibility of an upcoming Special Assessment.
Did you have your Realtor show you my listing on Abonado? It's $48k and the owner may be negotiable.
All the best,
Sold On Tampa Team