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Quote from @Lee Banks: Hi my name is Lee I'm looking too buy my first rental property and but I feel as if I need a mentor to watch, I still need to learn the basics of real-estate does anyone in New York do programs or mentorships and where would you start if you first started real-estate today  Hello Lee,I'd recommend looking up local meetups here on BP, meetup.com and, eventbrite.You can also call around to speak with RE investors and professionals in your target market to begin making connections.With so much available information online, I'd recommend speaking to a few people and doing independent research before committing to mentorships.

I believe the property have appreciated in value just based off recent sales in my market area.

Raise the $600K, do the pre-development work, then “sell” the property to NewCo.  

I would sell that property in IL and chalk it up to a learning experience.

When I found the property I simply extended the radius of my search and tadaaaa "duplex" cought my attention and especially for a $350k purchase.

After about 10 years I have accumulated a fair amount of small multifamily properties. 

I got the property off-market for $250k from a trusted family friend.

I can do the parade of horribles for a personally owned rental property but suffice it to say that it is a long and robust parade and the horribles are horrible.

With the down payment you're putting down (assuming it's at best 25%) with current interest rates, you're maybe going to be scraping a couple of backs cash flow on a Class C+ property.