Or invest and let your investment pay for your Corvette or what ever luxury you want.....its the same concept.What ever you decide, you will have some time to continue to learn. 

Stick to the basic luxuries, an HDTV with a Roku and a BluRay player with some adult movies. 

They are ultra conservative with their underwriting.

That's strike 1 for me, UNLESS the 140K is ultra-conservative or unless the Cash on Cash or CAP is excellent.2.

I feel like I'm being ultra conservative on my numbers as well but I think you are right. 

Year-to-Date luxury sales closings are on the verge of surpassing both 2013 and 2015 results and are up nearly 42% over last year.

With prices this high (400-550k), you’ll never find tenants who will shell out 5000/month POST tax.Rents have ceilings unless you’re in a ridiculous neighborhood and offer luxury amenities.

I had the luxury of having another person figure it out initially and then show me.

On assets like this the stabilized cap should be ultra high so with higher debt service the cash flow spread is still good.I hope you find the loan you need but it sounds like you are looking for miracle terms for the asset type and location. 

See in Brooklyn exposed brick is seen as a luxury item.