Still, maybe you are over complicating it by trying to buy MF (a difficult asset to manage) on the other side of the county in an area that you have no experience investing in. 

Still use paper method for mileage logs.Tried QuickBooks several years ago but it was more complicated and I did not need the bells and whistles.

This is true, but can increase your chances of success by working with an experienced team.Financing Challenges: Unexpected rate hikes or tightening lending restrictions can complicate your plans. 

My contractor has gotten impatient waiting for him and has started taking matters into his own hands (he did the jack hammering of the floors which my plumber said had "complications" and would "take forever to get through"). 

It's complicated and not recommended for newer/smaller landlords, but it's a profit center for me.

This stuff doesn't have to be complicated.

They do not do it because they wake up in the morning and think, "gee, today I am going to invest somewhere else".This story is in fact quite complicated.

AS you illustrate with your ( what I would call ) complicated debt instrument plays.

dont over think this its not that complicated. important issues are.1. cost of capital2. knowing what a deal is or is not.3. good reno crew or contractor  4. good agent that will tell you straight what its worth when done and what level you should rehab to.5. a market that is actually moving napkin math works  trying to drill down to decimal points does not.

As for NY which is from what I see a very complicated state compared to Trustee sale states the thing to do and the ONLY thing to do..