New York City is an excellent market to invest in - but you need to manage your risks accordingly and have a long-term focus. 

Sounded like a win win win situation to me.

Win win scenario.

Quote from @Wesley W.: In your long-term rentals, which do you prefer and why? 

If timing is critical and being able to pay cash will "win" you more offers, then you could always do a delayed finance purchase where you buy in cash and refinance into a LT DSCR rate.

I agree 100% @Peter Davis the entire SW Florida area looks excellent and has a bright future.

Plus, if the area continues to appreciate, you're winning in the long run.Using the funds:Improving your current condo to rent it out is smart.

ive always just used an excel spreadsheet with coding to categorize the expenses 

Lots of good advice above. 98 percent of wholesalers don't even know how to evaluate rehab costs and have no access to get the true ARV and don't care either way, they are just trying to make the biggest spread instead of finding the best win-win scenario.

looking at a 6 unit in NorCal excellent credit score, solid cash flow