@Kay S.Assuming you are getting title insurance (which I recommend) the closing costs will be similar to a traditional closing.

Hi Marc,I'm also from Long Island and looking to get into the Poughkeepsie market for similar reasons.

Plus, letting a unit sit vacant for 6 months without approving needed maintenance is totally Irresponsible on your behalf.I’m glad we gave you a 30 day notice and would do so in a heart beat again to any other landlord with a similar mindset to yours.Much success 

Join a mastermind group of similar investors.

This is an important point and I have been in similar situations when we have moved into new counties (I am a PM so manage in about 8 different counties). 

That is what is meant by slow flip except generally you will use borrowed funds to buy distressed property and sell for more with financing--similar to what some used car dealers do but with an appreciating asset instead.

(I had chat GPT optimize this response, Lol)That's a good point—I have similar rentals as well.

Also talk with an insurance broker and be upfront with them and ask for quotes on a couple on the market deals that would be similar to what you want.

Similarly, if you put several Class D tenants in a Class A 4-plex, what do you think will happen to the property?

Bird in hand is better than 2 in the bush, especially when the two in the bush do not have the money.we are seeing a lot of companies now try and get seller financing and then arbitrage it to renters - similar to STR arbitrage but just arbitrage it with a loan and collect the rent and if the tenant stops paying they walk away and you are stuck with the home, the foreclosure and the subsequent eviction.