Tenant was acquired with property upon closing(they have lived in their unit for 2+ years with on time payments).

This includes:- Purchase price- Renovation costs- Closing costs (buying and selling)- Holding costsThese expenses offset the selling price to calculate your taxable gain. 

Had the chance to do this flip with a close friend that did not have to capital to take it on themselves.

Did you close on your property ?

I followed that case closely at the time. 

Vacation rentals are usually much nicer, are close proximity to attractions (beach, mountains, lake, theme park etc) and have nicer or more ammenities.

However, you would sell these loans at closing for a commission or fee.

Things that have stood out so far in my research: 1-Close proximity to Metro North (90 minute ride to NYC)2-Vassar Medical Center3-Marist & Vassar Colleges 4- The Walkway over the Hudson5-Restaurants/Cafes/Hotels, etc.Thanks for your time.

That will pay off the remaining $360 mortgage and reimburse your rehab and closing costs.

I talked to a woman on the voucher waiting list recently about her experience with the process and she said most people that get approved for vouchers never move from that area, so the local PHA ends up closing their HCV programs because there aren't any more HCV qualified homes in that area.