I think working on getting liquid capital for these projects is step one for me.

Meaning truly intrinsic(2x DSCR not 1x DSCR), then roll the dice and lever the minimum you need to get the deal done and understand to put more to reserves than anything else for the first 3-5 years from your current and new property.The risk:reward ratio is very low when you factor in a lack of liquidity.

Go over and see if you can put liquid plumber or something in it to clear it....take a snake and plunger just in case.

Not only the initial fees, but there are also liquidity requirements, i.e. $300k loan needs to show $15k liquid assets, and draws typically require you to pay contractors and obtain a lien release before you can be reimbursed for the money you paid contractor.While I know there are a lot of people who use low money down loans to get started, it is risky.  

As lenders, well issue a prequal/preapproval letter if we've analyzed your income, assets (bank and brokerage statements to establish that you have the liquidity to afford the down payment, closing costs, and reserves), review credit of the guarantors, review the relevant experience to ensure that we're not throwing our money away on newbies that are wandering around in the dark, and have put together a reasonable plan of attack for the project.

There are candles (and other products like room sprays etc) especially for the smell of cannabis and/or smoke. 

This is also on the heels of their update call last night where one of the focal pitch points was discussing the "millions and millions and millions" liquid in place to purchase more properties.

They give the benefit of instant liquidity and being able to sell them when you need the cash.

A buyer needed, I heard through the grapevine, $100M of liquid capital to acquire them for very darned little.

It isn't impossible but as @Jimmy Lieu mentioned, there is a steep learning curve.Depending on your liquidity, out-of-state buy & hold rentals could be your best bet if NYC investing is out of the picture.