When my Grandfather immigrated from Italy he settled in Bayonne. Bayonne's problem is that from some areas it can take you 45 mins to get into the city when it's right freakin' there on the Hudson River!! The next area I also see gentrifying is downtown Newark around the Prudential Center, I would buy a condo/loft around there in a second as an investment and at the very least you always will have a rental demographic with the colleges and Seton Hall Law right there. Wish I had extra coin....