I have been analyzing fix and flip opportunities in NYC and CT as my next venture. 

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

I will say the picture did not match your strategy of going to Austin.

He had to reset the main breaker that turned off dryer, so it was a quick fix, but said it could prevent messing up appliance and having to pay more.

Problem found by expert, but you chose to not fix the problem by expert but by tenant.  

I understand it will be hard to match (if not impossible) the 10% yearly income and 5% appreciation of properties (those are my numbers).

I just got done analyzing this property with the Fix and Flip Analyzer.

I specialize in working with cash investors, helping them find off-market deals, fix-and-flips, and rental properties that align with their goals. 

You can also make your place more trouble-free by fixing things up front that are most likely to break (new light fixtures, light bulbs, door locks, etc.).

I'd prefer 30 year fixed rate debt at 7% over this arrangement unless there is something that I am missing.