I definitely understand everyone else's practical advice regarding "lifestyle investments" but also think there is something to be said about following what lights a fire for you! 

Potentially lower down needed of 15% with better rate and 6% cap in IPC’s

The property will be strictly for investment purposes, not a primary residence.I’ve been looking into two potential financing options:Hard Money Lenders (HML) – I’m drawn to this option for its speed in closing, but I know the rates can be higher.DSCR Loans – This seems like a great option for long-term rentals, but I’m unsure if it’s the right fit for my auction property since it might need some rehabbing.I’m also considering purchasing through a land trust or an LLC to add a layer of protection and privacy.So, my questions are:What’s the best way to approach financing for auction properties?

Make the offer appealing by highlighting the short-term ROI from his renovation expertise and potential profit-sharing during the partnership.

Practice analyzing deals, explore surrounding markets if NYC feels too competitive, and stay persistent, closing your first deal takes time but is well worth the effort.Good luck!

on a recent podcast Dave and Henry Washington talked about 10-15 years being a potential timeframe. 

Give you a cool place to visit (and potentially write off).

What are the next steps---BRRR seems like a good method for this- as theres potential for long term renters(near elementary and highschool)Step 1- look for a hard money loan(will they also cover construction?

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

@Curtis Cutler Avoid cashing out your 401(k)/457 to minimize taxes and penalties, potentially up to 40%.