@Jon W. The reason why Port Jervis has so many multi-family houses for sale is because the city is reverting them ALL back to single family houses. They are trying to cut down on the numbers of rentals and increase owner-occupied housing. I was about to purchase a multi-family unit out there until I found out about this from the building inspector himself (he happened to be right outside the unit as I was going in to take a look at it). The sellers are not disclosing this and trying to offload them on buyers that aren't aware of this. Big shame because I was really interested in this particular unit, but after finding out I would need to spend close to 100K in order to make it a single it was just not worth it, especially since the town is not currently supporting the price at what I would have to sell it for in order to make a good return.
@Anthony Ciani I would focus more on Middletown. There's a lot of good opportunities out there. Newburgh is not so bad if you know where to look. Is all about what you want to do.
Start by asking yourself this; Do you want to hold them as rental properties or do you want to flip them?
Once you answer this question it will be much easier for you to decide what areas to look at.
