I started looking a bit into Rochester which has a way lower price point for multi families and single families but obviously I would be unable to house hack as it is 5 hours away from NYC which I will not be commuting lol.

Totally up to you but let us know what you go with! 

Obviously, a good team will be crucial for you since you'll be investing out of state.

So I’m pretty close to you, once I pull some cash I have sitting in a flip that will probably turn into a brrr I’ll be about 70/30 stocks, I really don’t mind buying property provided I think for some subjective reason that area is undervalued/will outperform the market, but to me the stock market has a few advantages, 1. it is much easier obviously/more liquid. 2.

Quote from @Mark Thiel: So I’m a total newbie when it comes to real estate investing outside of owning a few personal use homes.

I hired a contractor with a solid reputation for working with international investors, and we agreed on a total cost of $495K, to be paid in stages.

If it was purchased cash you can do delayed financing immediately, but it would be based on your total capital invested not current appraised value. 

If I can get 2 different renters in before Jan 1 2025-is still possible by obviously getting a cost seg.Also, would all of the house hunting, going out to see properties, research (calling city for license/map searching) and buying the furnishings count toward the 1 of 7 qualifications IRS demands in addition to the 2 Airbnb bookings-preparing home, cleaning, set up etc?

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

If the home is 100 yrs old, I'm assuming it's a definite gut which is going to require new plumbing, electrical, heating, cosmetics.I spent about $140K reno on my multi family in the heights on NY ave and there were massive problems with it but it was a gut to 3 units & adding 2 bathrooms, 3 brand new kitchens 4 bathroom reno in total, all new flooring, sheetrock , insulation, framing, doors, electrical, plumbing, paint, parts of roof etc.