So purchase price, as long as you can obtain initial funds to execute the BRRRR (including the value add), has zero bearing.  

If they were long term I would let them break the lease and if the home was left in good condition then I would return the deposit - now this is just me but you have  alease that dictates specific terms that you can uphold them too or not.It would be ok to ask for the death certificate, and what you could say is its our policy to waive the fee for death but we need a record of it.

It goes deeper than that.NYC Liberal policies, including strong tenant protections, increases the risk of failure so much that the risk far outweighs the rewards.Financial ruin is just around the corner for the small Mom and Pop Property Investor that it doesn't make sense for them.The Tenants will have free Attorneys that are bent on delaying eviction cases so long that it stretches into years while Mom and Pop suffer from lack of rental income and still have to pay all the bills and do the management.Additionally, the increase in homeless living rough in the streets due to Sanctuary laws causing a lack of shelter beds, then evicting shelter residents after 30 days creating more homelessness, policies that tie up the Police's ability to arrest perpetrators, etc. only causes Mom and Pop to sell out at large discounts to larger Landlords who are capable to use Economies of Scale to eek out a profit.These larger Landlords will eventually turn a much higher profit as the pendulum will eventually swing towards the middle when the NYC Voting population eventually realizes that it's not a conspiracy of the Rich that's causing the Wealth Gap to increase.It's the same liberal laws that encourage people to become lifelong tenants, small Entrepreneurs (including Property Owners and small Mom and Pop Businesses) to be destroyed, and Rents to rise astronomically as housing becomes scarer even when the population declines by as much as 7% in the last several years. 

The objective is to upsell to a master mind program or the artificial intelligence datasets, which also have zero response rate.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

This includes the two appraisals at $500-$750 each.Attorney costs are usually $1500-$2500/transaction, including lender's title policy and whether it's a new policy or a true refi.

If you don't have one already, would think about getting an Umbrella policy. 

Zero to hide.

I think I can get this property for cheaper and I think I will need to in order to pay off the hard money lender with zero out of my pocket after I do a cash out refi 

Have a guest policy in place and stick to it.