I highly recommend a book called Foreclosures Unlocked by Matthew Tortoriello and Kevin Shippee.  

Of the conversations I have had with people discussing hard money lending, some seemed opinionated in that the high interest rates and terms were enough to scare them off.

I suspect it will be well used and have high maintenance costs.Software: office of google office, asana, possibly quickbooks (i would normally not suggest for a single rental, but the rent by room compounds things).  

@Philip AndersonMultifamily properties in Ventura can perform well due to the area's high rent demand, but inventory can be tight.

If you aren't going to be living in CR full time as you try to execute the deal I do not think it is physically possible for you to obtain a loan from Scotia Bank and not worth your time to try because the rates are so high. 

That is INTENSLY risky, failure % is wildly HIGH.

Grocers must eat the loss of their fresh vegetable or frozen foods during a power outage.

. - Prices are too high- Prices are falling- Interest rates are too high- My Cousins, Mothers, Sister told me that Real Estate is too riskyThere’s never a “perfect” time, but everyone wishes that they started sooner.

Just food for thought- It's not always in your best interest to provide all of the materials, negotiate too hard, refuse to pay a deposit, etc.

One thing to consider is whether a two-family twproperty might provide better cash flow than a condo, especially with NYC’s high costs.