Let's of NYC investors look at other cities in NY, Rochester, Buffalo, etc... they can drive to them to see them, and they know the state well enough to feel comfortable.Most of the rust belt cities in NY offer cash flow as well. 

I have found other 100% financing options as well.

I know there are a lot of options, especially since they are family and willing to carry the loan. 

However short contract period allows you to pursue other avenues to sell if the wholesaler can't execute on the terms they offered.

USDA offers 100% financing if you can find a property that qualifies for USDA.

Cities like these offer untapped potential without the intense competition found in larger metros.3.

Quote from @Kathy Grossart: Can a non-accredited investor in an already established SDIRA, within a 506(b) multi-family syndication, do a 1031 exchange to another syndicated property (with same operators), if the new 506(c) offering required investors to be accredited, and the investor is not? 

So before dismissing your options, you may want to consult an investor friendly Lender who is an out of the box thinker.

Shared housing provides affordable, flexible rental options for young professionals, remote workers, and students.As shown above, co-living properties have more demand than traditional two-bedroom units and appeal to a wider tenant base.2.

Shared housing provides affordable, flexible rental options for young professionals, remote workers, and students.As shown above, co-living properties have more demand than traditional two-bedroom units and appeal to a wider tenant base.2.