Now, if you had a prime apartment in the Mission district of San Francisco, I might say do it (barring the short term rental laws that are now in place).

I currently want to invest a property in New York metro area, I refinanced my own house and got 500,000 cash on hand.

And if you know your area you can focus on certain neighborhoods, which is something you can't as easily do if you buy, for example, an absentee list.There are tons of other ways to get leads though, it's just up to you whether you want to put in the time, do the work, pay the money...Type "finding leads" into the search bar here on BP and find literally thousands of posts and blogs on the topic.

I am also moderately interested in the same property class in Phoenix, Seattle, and Buffalo, New York.  

My name is James Brown based in Utica New York.

Please reply with anyone you've worked with and was happy with their results in the following areas of work:Framer carpenter (I need a wall cut out to create a counter top bar between kitchen & dining room)Kitchen/Bath Cabinets (refinished on one wall & new ones installed on the other)Tile (shower surround and kitchen back splash)Granite Counter top installationPainter (paint full 2 br/bth condo, all walls & ceilings, framework, & possibly fireplace and cabinets)I appreciate your help in advance!

I work at Marriott Hotel in New York in the engineering Dpt..

If its east coast like new York PA New jersey.. the chances of loss ARE GREAT.. because the time it takes to get your collateral back.. this is, as I posted on your other thread one of the things I have seen going on in CF space just making loans all over the country with no clue or thought to the default scenarios and the time it takes to corral your collateral.. by the time you do a 1 to 3 year judicial foreclosure in these states your collateral could be totally trashed.. stick to deed of trust states with quick foreclosure times.

Since you're in Florida, I assume you're making offer using the FAR/BAR As-Is.You can make a cash offer (assuming you have the cash and proof of funds to back it up), but still reserve the right to finance a portion of it. 

It's way to expensive out here for me to buy properties in New York..