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.

I bet you could make little to no money in 20 hours a week.

If you cannot prove income then our rental DSCR loan will be your best bet. 

I would bet the older homes will see a lot more appreciation than the newer homes, percentage wise. 

Then your best bet are probably community banks which have more flexibility (albeit worse terms) than larger banks and also worth looking into are DSCR lenders.

Often you are getting a pretty sizeable discount for your efforts, resulting in both captured equity and cashflow.The best ugly properties go quickly, so when I was looking, I got in the habit of searching daily.  

When you have a duplex and tenants on both sides stay for ten years, it almost guarantees that something isn't right.I would study your market and determine the value of your rental, because I bet you are losing money every month.

You bet.

Your best bet is to keep liquid cash and avoid PMI.

I bet you were floored when the person ordered every package you had to offer!!