If I were you, I’d consider chatting with a property management firm active in that area...SlateHouse Group’s name comes up in local investor circles now and then...just to get a sense of what rents are really doing on the ground.

They also did not know that their SS mangers were kiting $5K per month of rents so the rent roll made no sense and I got the bonus of the missing $$'s. 

A lot of investors based in markets like California and New York are choosing to purchase their investments OOS in the Midwest because of the affordability and numbers making more sense.

After that you'll want to see what sub-market/zip code might make sense given the relative rent/price ratios.

So many folks are out here touting making millions with $0 down and you proved that even with all the due diligence and good investing sense, you have to be prepared and take risks that are proportioned to what you can withstand.

I think paying off your primary makes sense if you are close to retirement, but not if you’re young, and not if you have a sub 6% interest-rate. 

Something will come up that will make more sense. 

One of our biggest clients plans on building more up there and meeting another GC or two would certainly make sense.

If the rate is reasonable then it may make sense to try to save fast to get to the 3.5% down payment on a double or triple - househacking may allow you to increase your savings rate and pay down that loan even faster.As for estimating costs, closing in NY factor at least 1% of the mortgage amount for tax, plus $1500-2000 for lawyer, title and fees, then the amount required by the bank for escrow will depend on the actual property taxes and insurance.

It didn't make much sense to me.