I don't lend in NY (we do investor loans in most of the country and consumer loans only in FL, but we do nothing in NY), so I don't have a dog in the hunt here, but don't discount other types of loans, including a loan designed specifically for flipping.

At that's the approach I took with respect to my home country of Canada when I started to invest internationally.

Or if you just want to talk music (country and 90s gangsta rap are my preferred :-D), sports, technology and general real estate, feel free to connect as well.  ;-) 

The eastern plains area will ban STRs.

My plan is to contact them in effort to get them to sell the property based on the assumption that they are out of state or possibly out of country and the property looks like it is in a fixable condition. 

From a cash flow perspective, I don't know anywhere in the country where you can get $2K a month in rent and invest $80K.

This is due to higher interest rates and it is happening in most parts of the country.

You could use the money to invest in other parts of the country like others have said.

Many municipaliteis across the country have introduced zoning legilsiation that prohibits STR as a legal use. 

If your wanting something like student housing, the options are almost endless (emphasis on the almost)there are great locales all around the country depending on what you're okay with and what your goals are.