In the meantime I would touch base with lenders and get the financing squared away.

I would still set aside money for renovations that are need based if you do that and use the rest to invest.

For example, you could create a weighted structure where a percentage of profits is based on cash contributions, and another portion compensates for rehab or management efforts.Rent Payments and Tax-Free Profits:If you structure it as an owner-occupied property, the rent you pay could be shared proportionally, but tax-free gains on resale may only apply to your share, as you’d be the owner-occupant.

Not all but a vast majority based on my doing deals in PA NJ WV OH SC etc etc. 

Based on what you said you meet this criteria.

On the surface, the deal seems appealing, but there's a catch: the asking price is $475,000, which is about 18% over the market value (based on comps and DealCheck estimates around $402,000).Details of the DealProperty: Duplex, 2,400 sq. ft., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?

Nightly rates and estimated revenue based on all the other units in the area?

We are based in NYC but are considering (as of now) locations outside of NY but within a 300 mile radius. 

Based on your first fix/flip, it sounds as if you don't have any issues doing moderate rehab.

@Ilir Livadhi I think you are referring to property wholessalers telling you how much the rehab will be - and as you see, their numbers are often not based on reality.