Alternatively, look into renovation-specific loans like the Fannie Mae HomeStyle Renovation or FHA 203K loans as standalone products for rehab costs.FHA 203K LoanPros:Low Down Payment & Bundled Costs: This loan simplifies the process by combining the purchase and rehab costs into one mortgage.Cons:Interest Rate & Refinance Requirement: Higher interest rates and the need for refinancing could reduce your overall return on investment.Fannie Mae HomeStyle Renovation LoanPros:Bundled Costs: Like the FHA 203K, this loan combines purchase and renovation costs, simplifying the process.Cons:Interest Rate & Refinance Requirement: Similar to the FHA 203K loan, the need for refinancing to extract equity and convert to an investment property might add to your costs.I am a loan officer so I have some expertise in this area.

We've noticed a very strong increase in out of state investor interest in Oregon motivated by Oregon 1031X Exchange transactions and wanted to share some insight into alternative income producing asset classes that are common, attainable and available in Oregon. 

Exploring alternative revenue streams, such as short-term rentals or mixed-use developments, can increase cash flow and diversify income sources.

I like Wenatche, not exactly cosmopolitan, but a considered alternative to Seattle.

Alternatively, you could also contact the police and let them know you believe they are trying to scam you.

Alternatively, there are areas where you can get more bang for your buck and cashflow such as Lowell, Manchester NH, Worcester, New Bedford, and I'm sure plenty more.

I had my real estate hat on and was not thinking of those RIAs...which I am actually an RIA but I dont work with alternative investments.

This is the option I typically take  3) alternate rent strategies such as STR, MTR, rent by room, etc can result in significantly better cash flow.  

I was actually considering NJ and CT as an alternative to NY. 

However, if you need fast access to funds or have difficulty qualifying for a HELOC, a hard money loan could be a viable alternative, especially if you have a clear plan to refinance quickly.