No one can helpfully answer the questions you pose without more specific information.Have you walked through the property?

I will answer as it relates to traditional BRRRR, in the general case there are additional options.  1) Do not perform maximum cash extract.  

Hi,I have a few properties in Toledo would love to connect, and help answer your questions.

Shop around with local lenders, ask these questions, and get answers before you try to buy the triplex. 

The quick answer is 99.9% of the world should not do this investment, they will lose money. 

Hi Mike,I don't know the specific answer to your question, but the dirt cheap bare minimum 'online' brokerage that I've seen a lot of people use, after spinning their wheels and doing a bunch of research, is these guys.To align expectations: you get what you pay for, which in your case may end up being 100% perfectly fine.

Again, the states property code will provide the answer, but as i have come this far, blabbing on for several paragraphs Ill tell you.

The answer to my question is you find the deal. 

I’m curious if the process in NYC is similarly structured, where it’s difficult but feasible to follow through, or if there are unique barriers that make it much harder or even impractical.If anyone has insights or could answer a few questions, I’d really appreciate it!

All that said, and to answer your question, I think a guaranteed check for 66% of the rent offers some peace of mind and limits potential loss.