That will keep your out of pocket lower and your $70k would allow you to buy two properties.

Instead of jumping into an expensive Long Island market with negative cash flow, consider investing in a Texas market like San Antonio, Houston, or DFW suburbs—these areas offer strong rental demand, lower property taxes than NY, and better cash flow potential.

*I aim for a certain guest experience and keep occupancy lower to minimize wear-and-tear and respect my neighbors.

If that is a problem for you, you should just sell or self manage because you aren't going to find a similar level of service for a lower price.

As you're just starting out in Austin, focus on learning the local market, particularly areas with good rental demand and lower entry prices.

I wanted to help them out and minimize their loss and saw an opportunity to get a property slightly below market because of my commission savings, immediate mortgage and maintenance relief, in addition to keeping a lower short term interest rate How did you find this deal and how did you negotiate it?

Tons of upper and lower new oak cabinets and counter space with custom granite counter tops.

Quote from @Micheal Smoke: Hi, my name is Mike Smoke, and I'm an aspiring real estate investor focusing on multifamily and Section 8 properties in the U.S. as the barrier to entry is much much lower in terms of price compared to Canada and Funding options. 

It's great for cashflow and our entry level costs are lower than a lot of other markets.

I suspect there would be massive blow back if the feds attempt to lower sec 8 rental assistance.