Multifamily in Sleepy Hollow NY

[Gaspar J. Cruz]

Hey BP,

I have about $90-100k saved up to buy a place of my own (possibly more, I’m closing on selling my father’s building in Sleepy Hollow, but I have to pay back the bank and my other siblings). I wanted to buy a multifamily in my hometown but the prices are ridiculous, the only ones I can afford are the ones that need gut renovations and aren’t move in ready and even those are going for 250-350k. Should I look at the town next door and get something that’s move in ready but just needs cosmetic work? 

One appealing aspect of staying in my hometown is that there is a new development of the downtown area which is super exciting and I don’t want to miss out on that opportunity. 

P.S. - The person buying my building wants me out by closing, but my gf’s family said they’d take me in as long as I need to.