If the owner submits a completed application before the servicer starts the state foreclosure process, the servicer can't foreclose until the following occurs:the borrower doesn’t qualify for, or rejects, the lender’s loss mitigation options, orthe borrower accepts a loss mitigation offer but fails to fulfill its requirements."

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However the medium term rental seems like a good option.

Transportation options are plentiful.

There is a ton of fix and flip going on in Brooklyn and I am trying to work my confidence towards that after my first project at a lower price point around 300K somewhere (CT seems like my only option). 

You want a property that has the highest probability of maxing out on appreciation.Once done, you would want to explore the options below to maximize your rental income:- STR- MTR- Rent by RoomYou should go into this understanding YOU will live in the worst unit - in an illegal unit in the basement if you can!

Quote from @Tim Delaney: Quote from @Nilusha Jayasinghe: Quote from @Tim Delaney: It sounds like you would be in a good position to invest some or all of the RE emergency fund in a “safer” index fund.

Durham on the other hand is a great opportunity for investors seeking more short-term growth, more options, and higher likelihood of cashflow. 

I've helped people with SBA loans to purchase real estate for a business, but for buying rental real estate, the DSCR loan is a much better option.

Something that is increasingly important to those clients is being cash flow positive from day 1 and this is what we deliver.